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

For Revocable and Living Trust Accounts, the individual establishing the Trust (the "Settlor") must be a member of the Credit Union and, any withdrawal of Trust Account funds will be deemed a revocation of the Trust to the extent of any such withdrawal unless otherwise provided for in the Trust documentation.
If the Account Designation shows a payable on death status, any Beneficiary has rights to the Account: (a) if the Beneficiary is a natural person, only if the Beneficiary is alive and only if the Settlor is deceased; (b) if the Beneficiary is a charity or other non-profit organization, only if the charity or non-profit organization is in operation as a validly constituted, registered and/or licensed entity under applicable state law, and only if the Settlor is deceased.
The Settlor may change the Beneficiary at any time by providing Us adequate proof of such change in a manner acceptable to the Credit Union.

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

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

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

Settlor means a person, including a testator, who

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

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

Settlor means a person, including a testator, that