What is the function of a 'settlor' in a trust?

The function of a settlor in a trust is to create the trust. This individual is responsible for establishing the trust and transferring their assets into it, thereby outlining the terms and conditions under which the trust will operate. The settlor dictates how the assets are to be managed and distributed, and they typically define who the beneficiaries are and what their entitlements will be. This foundational role is critical because without a settlor's intent and action, a trust cannot be established.

In contrast, other roles in the context of a trust do not pertain to the creation of the trust itself. An executor administers the estate of a deceased person and carries out their wishes as per the will, which is distinct from the function of a settlor. Beneficiaries, on the other hand, are the individuals who benefit from the assets held in the trust and do not have a role in its creation. Lastly, a legal representative for the trust may manage or oversee the trust but is not responsible for establishing it like the settlor. This distinction highlights the unique and essential role of the settlor in the trust structure.