What does settlor mean?
A settlor is a person who creates a trust by transferring property to a trustee to be administered for the benefit of others. This term is commonly used in the context of trusts and estates, and is often used interchangeably with 'grantor' or 'trustmaker'. The settlor is typically the person who establishes the trust and transfers assets into it, and may also be referred to as the trustmaker or grantor. The term 'settlor' has a specific meaning in the context of trusts and estates, and is an important concept in the field of estate planning.
nounA settlor is a person who sets up a trust, making a transfer of property to a trustee to be administered for the benefit of others.
- A person who creates a trust by transferring property to a trustee.
- In a broader sense, a person who establishes or founds something.
"The settlor of the trust was a wealthy businessman who wanted to provide for his family."
"The settlor of the charitable trust was praised for her generosity."
"The company's founder was often referred to as the settlor of the organization's mission."
The plural form 'settlors' is used when referring to multiple individuals who create trusts.
"The settlors of the charitable trusts were praised for their generosity."
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.
Etymology of settlor
The term 'settlor' originated in the 15th century from the Old French word 'settle', which means 'to settle or establish'. It is related to the word 'settlement', which refers to the act of settling or establishing something. The term 'settlor' has evolved over time to refer specifically to a person who creates a trust by transferring property to a trustee.
How settlor is actually used
The term 'settlor' is commonly used in the context of trusts and estates, and is often used interchangeably with 'grantor' or 'trustmaker'.