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Settlor
A settlor is the person who creates a trust by transferring assets into it, setting the terms and electing trustees to manage the trust assets for the benefit of the beneficiaries.
Creates
Refers to the act of bringing something into existence or producing something through a process.
Trust
A fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries.
Implied Trust
A trust formed by the law from the conduct or circumstances of the parties involved, rather than by explicit written agreement.
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