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)
“Preach in the name of God. The learned will smile; ask the learned what they have done for their country. The priests will excommunicate you; say to the priests that you know God better than all of them together do, and that between God and His law you have no need of any intermediary. The people will understand you, and repeat with you: We believe in God the Father, who is Intelligence and Love, Creator and Teacher of Humanity. And in this saying you and the People will conquer.”
—Giuseppe Mazzini (1805–1872)