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LSDefine

Simple English definitions for legal terms

Settlor

Read a random definition: federal gift tax

A quick definition of Settlor:

Settlor: The person who creates a trust and gives something valuable to a trustee to take care of for someone else. The settlor decides how the thing given should be used for the benefit of the person who will receive it. Sometimes, the settlor can also be the person who will receive the thing given. In some cases, the settlor can also be the trustee who takes care of the thing given.

A more thorough explanation:

Definition: The settlor is the person who creates a trust. This is usually the person who donates or gives away something of value. The settlor transfers legal ownership of this item to the trustee. The settlor also decides how the item will be used for the benefit of the beneficiaries. In some cases, the settlor can also be a beneficiary of the trust. If the settlor creates a self-declared trust, they can also be the trustee.

  • John creates a trust and transfers ownership of his house to the trustee. He specifies in the trust document that the house should be used to provide a home for his children after he passes away. John is the settlor in this case.
  • Samantha creates a trust and transfers ownership of her stocks to the trustee. She specifies in the trust document that the stocks should be used to provide income for her grandchildren's education. Samantha is the settlor in this case.
  • Michael creates a self-declared trust and transfers ownership of his car to himself as the trustee. He specifies in the trust document that the car should be used for his personal use during his lifetime. Michael is the settlor and trustee in this case.
These examples illustrate how the settlor is the person who creates the trust and transfers ownership of something to the trustee. The settlor also decides how the item will be used for the benefit of the beneficiaries. In the first example, John is the settlor and he transfers ownership of his house to the trustee for the benefit of his children. In the second example, Samantha is the settlor and she transfers ownership of her stocks to the trustee for the benefit of her grandchildren's education. In the third example, Michael is the settlor and trustee and he transfers ownership of his car to himself as trustee for his personal use.

settler colonialism | Severability clause

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come in the DAY AFTER SHE GIVES BIRTH
W HER BABY
13:23
saw that, crazy that she cant just hold the fucker in for a day longer
LMFAO
babycat
13:23
gulc going to hell I’m so serious
glovediedthisishismom
13:24
thats definetly horsey on an alt
glovediedthisishismom
13:24
no way any professor did that
13:25
thrifted a vintage burberry suit today and feeling unstoppable
Dkk
13:26
Nice
glovediedthisishismom
13:26
im in the field like a defensive lineman im always in saks 💯
1a2b3c4d26z
13:26
That's awesome
1a2b3c4d26z
13:26
real ones shop at bergdorf
13:28
real ones shop at YMH
triplethread
13:28
i missed another fordham wave
triplethread
13:28
mamas getting denied
JumpySubsequentDolphin
13:29
the bergdorf on 5th Ave in NYC is so
JumpySubsequentDolphin
13:29
it feels like home
Dkk
13:29
I'm at your mommas house rn: https://x.com/Mansavelli_/status/1648073454665572352
triplethread
13:29
im addicted to reacting to all of the decisions
triplethread
13:29
with the emojis
HopefullyInLawSchool
13:29
I shop at Joe
HopefullyInLawSchool
13:29
Joe's
glovediedthisishismom
13:30
i shop at tawget
glovediedthisishismom
13:30
im dawk gawthic maga
triplethread
13:30
i shop at giant eagle
ForDizzyDJoy
13:31
How did i miss Fordham and American’s wave and I applied in september 🙃
13:33
Lol UC Davis took me of ED and put me in RD
13:34
surprised I didnt get straight denied
HopefullyInLawSchool
13:34
they emailed you/
HopefullyInLawSchool
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?
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