Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Settlor definition

What does Settlor mean? A settlor is the person or entity that creates a trust, either by transferring property to trustees or by declaring that property is held on trust. In practice, the settlor settles the trust deed (or settlement), sets the trust terms, appoints the initial trustees, and identifies the beneficiaries (or, where permitted, the purposes). The settlor may add further assets and may reserve limited powers (for example, to appoint or remove trustees or to amend), subject to validity and tax consequences. Usage is broadly consistent across England and Wales, Northern Ireland and Ireland. In Scots law the creator of a trust...

Blind trusts: bare trust characterisation, tax implications, enforceability and beneficiary information rights, political transparency concerns, and other meanings (Red Cross asset-protection trusts and anonymous political funding vehicles)

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Practice notes

What is a blind trust?

A blind trust is designed to avoid conflicts of interest. Commonly, the settlor and beneficiary is a politician or someone in a similar public position. The settlor/beneficiary (SB) transfers assets to trustees to hold absolutely; the trustees then manage and invest as they consider appropriate, taking no instructions from SB. They operate without telling SB how assets are bought, sold, managed or invested. The purpose is to prevent criticism of conflict where SB, in an official capacity, makes a governmental decision that affects the value of investments within the trust. The intention is that SB makes decisions without being swayed by potential effects on their own asset portfolio. Accordingly, a blind trust requires trustees to enjoy complete freedom and discretion over the buying, selling, management and investment of assets, and they are under no obligation to take orders from, or consult, SB. Neither the choice of assets nor the timing of transactions is communicated to SB, and no guidance, approvals or directions are sought from them. The effect is to separate SB’s public role from their private holdings, so that decisions taken in government or comparable public office are made independently of possible gains or losses arising...

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Web page updated on 21/05/2026

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