Who are the parties to a trust?
Settlor The Settlor(s) is the person or persons who creates the Trust by Transferring Property into it, for example, a Life Policy, Property or Shares etc. A Trust is invalid if it is empty. It is also invalid if there is no certainty as to what “Property” is being placed in it. Beneficiary The Beneficiary, as the name suggests, is the person beneficially entitled to the Trust Property. The Trust wording should outline what this beneficial interest extends to e.g. a right to the income from the Trust Property or a right to the Capital or both etc. A Trust is invalid if there is no certainty as to who the Beneficiary(ies) or Potential Beneficiary(ies) are. Trustees The Trustees are the individuals who have a duty to look after the Trust Property on behalf of the Beneficiary. The Trustees are the legal owners of the Trust Property but cannot use it as their own personal property. They must look after the Property in accordance with the Trust conditions and statute (where applicable). If
