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Settlor |
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One who establishes a trust—a right of property, real or personal—held and administered by a trustee for the benefit of another. settlor n. the person who creates a trust by a written trust declaration, called a "Trustor" in many (particularly western) states and sometimes referred to as the "Donor." The settlor usually transfers the original assets into the trust. (See: trust, trustor) How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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According to the regulations' preamble, the IRS was concerned that these new state laws would encourage settlors to begin defining income in ways that depart fundamentally from traditional trust income (the foundation on which Subchapter J was built). Settlors always have had the right to override statutory principal and income provisions by prescribing specific accounting and allocation methods. Since VISTA allows settlors to retain control over the administration of trusts' underlying investments, there has been a significant upswing in interest from investors and organizations from Latin America, the Far East and mainland Europe who were previously reluctant to take their investments overseas. |
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