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LSDefine

Simple English definitions for legal terms

Settlor

Read a random definition: Mutual Wills

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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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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