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I'm onboarding as a trust, what is a settlor?
A settlor is the entity that establishes a trust when it is formed.
A settlor is the entity that establishes a trust. The settlor goes by several other names such as:
Regardless of what this entity is called, their role is to legally transfer control of an asset to a trustee, who manages it for one or more beneficiaries.
The settlor is usually someone unrelated to the beneficiaries of the trust, such as an accountant, lawyer or close family friend. They usually have no direct involvement in the trust after the initial settlement.
Zeller is required to gather all required information associated with your trust to ensure it is identifying businesses correctly in line with our Terms of Service, which is why we ask for specific information about your business entity.
This information can be found in the Schedule page of the trust deed, listed next to the Settled Sum or Settlement Sum. If this is not available, we recommend contacting your accountant to confirm these details.
If you have any further questions related to onboarding your business, please get in touch with our Support team.