{"Term":"Settlor","Definition":"\u003cp\u003eGenerally a settlor is a person who transfers value in cash or kind to the trust for the benefit of the beneficiaries.\u003c/p\u003e\n\u003cp\u003eYou\u0027re also a settlor if you both:\u003c/p\u003e\n\u003cul\u003e\n    \u003cli\u003eprovide financial assistance to a trust (or for the benefit of the trust) with an obligation to pay you back on demand\u003c/li\u003e\n    \u003cli\u003eyou do not ask the trust to pay you back or you defer making the request for repayment.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eWe can identify attempts to artificially increase the number of settlors by having friends or family become settlors of the trust. The initial settlor will be treated as the sole settlor of the trust and shortfall penalties may apply.\u003c/p\u003e","TeReoTerm":"","TeReoDefinition":""}