Parties Flashcards
1
Q
Settlor
A
Creator of trust
2
Q
Trustee
A
Person responsible for managing the trust
Holds LEGAL TITLE to trust property
IN: Must be natural person, at least 18, of sound mind, and good moral character
3
Q
Beneficiary
A
Person who receives benefit of trust
Holds EQUITABLE TITLE to trust property
Has power to enforce trust instrument
