Trusts Where The Beneficiary Is Also The Creator
A trust created by an individual for his or her own benefit is sometimes called a "self-settled trust", and may be a kind of asset-protection trust. If the creator of a self-settled trust is also a beneficiary of the trust, a particular problem in the context of protection of creditors and prevention of fraud is presented: the danger that the creator of the trust is trying to defraud creditors.
Read more about this topic: Spendthrift Trust
Famous quotes containing the words trusts and/or creator:
“He that trusts to you,
Where he should find you lions, finds you hares;
Where foxes, geese.”
—William Shakespeare (1564–1616)
“The point of the dragonfly’s terrible lip, the giant water bug, birdsong, or the beautiful dazzle and flash of sunlighted minnows, is not that it all fits together like clockwork--for it doesn’t ... but that it all flows so freely wild, like the creek, that it all surges in such a free, finged tangle. Freedom is the world’s water and weather, the world’s nourishment freely given, its soil and sap: and the creator loves pizzazz.”
—Annie Dillard (b. 1945)