declaration of trust
Also known as a Trust Instrument, this is the device (usually a document) that creates the trust. It names the beneficiary(ies) and trustee(s), and may include the assets to be in the trust as well as issues about trust administration.
Definition from Nolo’s Plain-English Law Dictionary
The document that creates a trust. It names a trustee and beneficiaries, sets out how trust assets are to be managed and distributed, and may list the assets that are to be held in trust. It is signed by the person creating the trust, who is usually called the grantor, settlor, or trustor. A trust declaration is also called a trust instrument.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:14 pm
