Trust Settlor
A settlor is the official term for an individual who chooses to create a trust, with the responsibility of forming the trust and deciding upon its structure. The settlor plays a key role in any trust, as this is the individual who is responsible for initiating the trust, and is the only person who has any say in what will be contained within the trust and who will benefit from the trust. A settlor is responsible for the formation of the trust and is the only person who can make any changes that may need to be made.
DeltaQuest offer services to settlors who wish to set up a trust. Our team of dedicated consultants will assist you through every stage of trust formation, and will also administer the trust once it has been formed.
For more information on how DeltaQuest can assist you with your beneficiary requirements, please Contact Us.
A Trust Settlor explained
The settlor of a trust is the person who establishes a trust. The settlor is responsible for settling the terms outlined within the trust, including details of all assets that are to be transferred.
The settlor plays a key role in the formation of a trust, as it is their property and other assets that are being transferred into the trust. It is up to the settlor to decide how the trust will be formed and what will be contained within the trust’s deed. In addition, it is the sole decision of the settlor with regards to who will become a beneficiary of the trust. It is the settlor’s responsibility to decide upon any further conditions that need to be stipulated within the trust.
Upon setting up a trust, a settlor will appoint a trustee to administer the trust. This person will be responsible for administering the trust in compliance with the wishes of the settlor. However during the lifetime of the trust, the settlor may also function as the trustee of the trust if desired.
When establishing a trust, the settlor must ensure that they can provide evidence that they have the necessary assets in place to create the trust. Although the settlor plays a principal role in the formation of the trust, the trust itself may not actually affect the settlor to any practical extent during their lifetime.
Services we offer to Trust Settlors
DeltaQuest have many years of experience in trust formation and services. We can assist with the initial formation of the trust, and will also administer your trust in compliance with the stipulations stated within the trust’s deed. Our team of dedicated experts will be on hand to assist you with your every need, including advice and guidance on the formation of your trust.
Open an Offshore Trust with DeltaQuest
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