Who is the
Settlor of a Trust?
The person setting up the trust is known as the settlor. The settlor transfers the initial assets into the trust in a legal process known as settling the trust.
In some cases, the settlor will play a role as the protector or enforcer of the trust. This is an ongoing role in the administration of the trust to ensure that the trustee is performing its obligations as the settlor contemplated.
Who are Trust
Beneficiaries?
The persons who benefit under a trust are known as beneficiaries. Beneficiaries may be identified individually (e.g. “John Doe” or “Chan Tai Mun”) or as a member of a class of persons (“the children of Mr. X”). Beneficiaries may receive income from the trust or capital from the trust, possibly in the form of a transfer of title to specific assets of the trust.
Trust structure
What is a
Trust Deed?
A trust deed is the legal document by which the trustee declares that he is holding property in trust subject to the terms and conditions of the trust deed. The trust deed will define who the beneficiaries of the trust are or will be or, in the alternative, give the trustee powers to determine the identity of the beneficiaries.
What is a
Trust Fund?
A trust fund is the property which is held by a trustee in trust. It comprises the assets available for distribution to beneficiaries under the trust deed.
