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Gray's Ghost—A Conversation About The Onshore Trust, Karen E. Boxx
Gray's Ghost—A Conversation About The Onshore Trust, Karen E. Boxx
Articles
A trust is an arrangement whereby one person (the trustor) transfers property to another person (the trustee) and directs the trustee to hold the property for the benefit of another person (the beneficiary). Multiple persons may fill each role; for example, there can be several beneficiaries or co-trustees. One person may play several of these roles; for example, the trustor may also serve as trustee or may be a beneficiary of the trust. However, if the same person plays all three roles alone, then no trust is created.
A self-settled trust is a trust that a person settles, or establishes, …