Settlor definition

Settlor means a person, including a testator, who creates, or contributes property to, a trust. If more than one person creates or contributes property to a trust, each person is a settlor of the portion of the trust property attributable to that person's contribution except to the extent another person has the power to revoke or withdraw that portion.

Settlor means that term as defined in section 7103 of the estates and protected individuals code, 1998 PA 386, MCL 700.7103.

Settlor shall have the meaning defined in the preamble hereto.

Examples of Settlor in a sentence

• This Trust Agreement is made this [date] day of [month, year], by [Name of Settlor], of [address], as Settlor, and [Name of Trustee] of [address], as Trustee.

• Any Trustee may resign at any time by giving written notice of resignation to the Settlor, and/or the other Trustee(s) then acting, if any, and if there are none, then to the beneficiary, or to [his/her] attorney in fact or conservator if [he/she] is incapacitated.

• Settlor declares that it is Xxxxxxx's intent, as expressed herein, that because [Name of Beneficiary] is disabled and will be unable to maintain and support [himself/herself] independently, the Trustee shall, in the exercise of its best judgment and fiduciary duty, seek support and maintenance for [him/her] from all available public resources, including Supplemental Security Income (SSI), [Medicaid or equivalent state program], and federal Social Security Disability Insurance (SSDI).

• Settlor declares that [he/she] has transferred to the Trustee, without consideration, the property described in Schedule A attached to this instrument.

• Dated: [date] [Signature and Typed Name of Settlor], Settlor SCHEDULE A THE [Name of Beneficiary] IRREVOCABLE TRUST $ [indicate dollar amount or other property].

More Definitions of Settlor

Settlor means a person who provides trust property or makes a testamentary disposition on trust or to a trust;

Settlor means a person, including a testator, who creates, or

Settlor means VCI, as settlor under the Origination Trust Agreement.

Settlor means a person, including a testator, who

Settlor means the same as that term is defined in Section 75-7-103.

Settlor shall have the meaning stated in the first "Whereas" clause set forth above.

Settlor means a person, including a testator, who creates a trust.