| 21. | Typically, a surviving spouse will be granted a right to the income of the trust by the settlor.
|
| 22. | Trusts are generally governed by the laws of the jurisdiction that is designated by the settlor as the governing jurisdiction.
|
| 23. | From both a historical and practical perspective, trusts have generally been designed to have only one Settlor or Grantor.
|
| 24. | A common mistake is to lock assets in a trust that earns returns far below yields that the settlor normally enjoys.
|
| 25. | The settlor can have the flexibility to revoke the trust and have the trust fund revert to him, for example.
|
| 26. | It is highly advisable for both settlors and trustees to seek qualified legal counsel prior to entering into a trust agreement.
|
| 27. | The settlor already holds title to the property and all that needs to be done is to make a valid declaration.
|
| 28. | In most states, the assets of a self-settled trust are not protected from the creditors of the settlor.
|
| 29. | It is or is not a personal injury trust on account of its source and the involvement of the injured settlor.
|
| 30. | The UK taxation anti-avoidance rules prevent tax advantages being given to such " settlor interested " trusts.
|
