To be a settlor, a person must meet all of the following requirements EXCEPT:
A)Own a transferable interest in property
B)Have the right or power to dispose of a property interest
C)Act as the beneficiary
D)Have contractual capacity

Question

Quizplus · Accepted Answer

A settlor is the person who creates a trust by transferring property to a trustee. Being a beneficiary is not a requirement to be a settlor; rather, it's a role that can be, but is not necessarily, assumed by the settlor. The other options (A, B, and D) are essential requirements for someone to act as a settlor.

To Be a Settlor, a Person Must Meet All of the Following