Jurisdiction(s):
United Kingdom

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...

Offshore trusts: overview, contrasts with onshore trusts, common structures (discretionary, life interest, hybrid, non-charitable purpose trusts) and key features (protectors, reserved powers, flight/flee clauses, firewall provisions)

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Practice notes

A trust is a legal arrangement created either during life by gift or on death, where an individual (the settlor) passes assets to one or more people (the trustees) to hold for beneficiaries or for a defined purpose. Depending on the terms of the trust deed, the trustees may simply retain the assets until a future event occurs, or they may invest them so that the beneficiaries can receive value from the fund, typically as distributions of capital or as income generated by the investments. Benefits may arise on the happening of a condition or over time, according to the instrument. A trust therefore involves three roles: settlor, trustees and beneficiaries. It rests on equitable principles under which legal title to property is distinct from beneficial ownership, and the trustee owes a duty of care to the beneficiaries. When a trust is established, the trustees take legal ownership of the trust property, whilst beneficial ownership lies with the beneficiaries in whose favour the trustees must act as required under the instrument and equity...

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Web page updated on 21/05/2026

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