0 a person who creates a trust (= legal arrangement to manage the assets of someone else) and puts money, property, etc. into it:
Capital is gifted into the trust by a settlor via investment bonds to named beneficiaries.
The idea is that a settlor should pay the capital gains tax in a qualifying settlement subject to his right to reimbursement from the trust.
They will not know that the settlor has changed the liability, and will have no idea whatsoever that the tax liability has arisen.
It is a case where a settlor has not effectively alienated his income away from himself in advance.
I should have thought that there were serious objections to incorporating that alternative period as one which could be used by settlors of property.
It is generally undesirable, and particularly is it so when it upsets the wishes of the testator or settlor.
I am referring to an analogous system whereby a beneficiary under the settlement of a trust, a settlor, ceases to be regarded as a non-beneficiary.
The settlor, by the act of making the settlement, has given up any interest in the trust from then on.
We are asking only that the solicitor or other professional adviser should give the name and address of the settlor.
