The defendant was to be the settlor of the trust, and the plaintiff would be the trustee. |
By will or by deed of trust, a testator or settlor places property in trust to provide for his family after he is deceased. |
The settlor, having established the trust has no power thereafter to amend. |
The courts of equity also will interfere in some cases of defective execution in order to carry out the intentions of the settlor. |
If the settlor is to be a beneficiary of the trust, it would normally be a discretionary trust. |
Many jurisdictions will look through the trust and tax the settlor or beneficiaries directly. |