Примери за използване на Settlor на Английски и техните преводи на Български
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The settlor must be a non-resident of Cyprus.
The land trust has four components:Number 1 is the settlor.
The settlor must not be a resident of Cyprus.
Case law does not look very favorably if the settlor lives in another state.
The settlor is not permanent resident of the Republic.
The extent of the protector's powers in each separate case is defined by the settlor.
Settlor and Beneficiary must be non-residents and may be the same person;
These are usually natural people, andgenerally include the Settlor all the while that he is still alive.
The beneficiaries could, however, be companies or other organisations,in accordance with the wishes of the Settlor.
He consults with the settlor, but the final decisions must be the protector's.
From this it is clear that there must be a relationship of complete trust between the Settlor and the Protector.
The beneficiaries are also named here, and typically the Settlor stipulates that while he is alive, he will also be a beneficiary.
The settlor himself can also be the beneficiary- for as long as he lives- or he can name other people(usually a spouse, children, brother etc.).
Finally, you can establish how the trust distributes assets when the settlor passes away through what we call the“power of appointment”.
An offshore trust is very much like a traditional trust in that it comprises a relationship orarrangement among“Trustee(s),”“Settlor(s),” and“Beneficiaries.”.
When the Trust is established, the Settlor transfers his assets to the Trustee, who, from that point, administers and manages the assets;
A Trust is governed by a Trust Deed which is a contract affecting three parties- the settlor, the trustee and the beneficiary.
Furthermore, it is only worthwhile if the Settlor is resident in a jurisdiction where the taxes and duties mentioned above are very high.
Our offshore trusts are very much like a traditional trust in that it comprises a relationship orarrangement among“Trustee(s),”“Settlor(s),” and“Beneficiary(ies).”.
In most cases the beneficiaries are the Settlor's close family members(spouse, children), and other people named by the Settlor in the Declaration of Trust brothers, friends etc.
Protector: this is the person who provides the Trustee with instructions regarding the management of the assets if the Settlor becomes incapacitated or dies.
However, if the Settlor handed over his assets to a Trustee while he was still alive, his heirs will not be subject to inheritance tax upon his death.
If the trust is formed to arrange for the benefit of the one who formed the trust and/or spouses, children orother heirs of the settlor, for example, the offshore trust may provide a haven from intense inheritance scrutiny and taxation.
In numerous cases the Settlor is in a position where it is not desirable to show the true extent of his wealth, as this may lead to certain negative consequences and judgements.
Basically, therefore, the only asset of a Trust established in this way is money held in bank accounts, which is officially the property of the Trustee,while the person managing the account(s) is very often the Settlor himself, or the beneficiaries.
The trust institution was originally devised for cases where,for one reason or another, the settlor was unable to manage his wealth(for example, when accompanying the king to the Holy Land in the times of the Crusades).
The court or courts of a Contracting State on which a trust instrument has conferred jurisdiction shall have exclusive jurisdiction in any proceedings brought against a settlor, trustee or beneficiary, if relations between these persons or their rights or obligations under the trust are involved.
Member States shall ensure that, in exceptional circumstances andunder specific terms to be laid down in national law, a settlor and/or a trustee may request national authorities not to make that information about the trust or legal arrangement in question publicly accessible, for the purpose of protecting the privacy of vulnerable beneficiaries.
The court or courts of a Contracting State on which a trust instrument has conferred jurisdiction shall have exclusive jurisdiction in any proceedings brought against a settlor, trustee or beneficiary, if relations between these persons or their rights or obligations under the trust are involved.
In the case of a trust that is a Financial Institution,it is believed that a participation is held by a person treated as a settlor or beneficiary of all or part of the trust, or other natural person engaged in the last instance the effective control over the trust.