Posted by Ceci, CA on 10/11/04 8:16pm
Msg #9667
Definition of Trustor
I know what a Trustee is, but I am not certain of the definition of the Trustor. Is the trustor person who is releasing the rights of the trust? I would appreciate it if someone can clarify this for me. Thank you.
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Reply by HisHughness on 10/11/04 9:23pm
Msg #9670
Trustor: You have $10 million dollars. You establish a trust fund to pay for Las Vegas vacations for overweight but charming retired lawyers. You are the trustor.
Trustee: You are an overweight but charming lawyer who has not yet retired, and is still taking advantage of widows and orphans. Your friend has just established a trust fund to provide goodies for your retired colleagues. He asks you to manage it and disburse the funds. You are the trustee.
Beneficiary: You are an overweight but charming retired lawyer who appears to be drooling over the prospect of chasing Vegas showgirls, when in reality you are drooling over the prospect of seeing Wayne Newton up close and personal. The trust fund pays to make your dream come true. You are the beneficiary.
Unintended beneficiary: You are the lovely and talented wife of an overweight but charming retired lawyer. You accompany him to Las Vegas, take in a couple of shows, and get an idea. He leaves Las Vegas alone; you're now living your dream of being a Las Vegas showgirl.
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Reply by Joan-OH on 10/11/04 10:17pm
Msg #9671
Hugh, you are TOO much! - LOL n/m
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Reply by Ceci,CA on 10/12/04 7:08pm
Msg #9718
HisHughness response
What a great definition! You are a very creative thinker. Ever thought of becoming a writer?
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Reply by HisHughness on 10/12/04 9:15pm
Msg #9729
Re: HisHughness response
Ceci,CA asked:
***Ever thought of becoming a writer?***
I've devoted very little thought to it, as should be evident from some of my output. In the past, however, a number of my editors have fervently wished that I would become a writer.
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Reply by Barbara - CA on 10/12/04 8:13pm
Msg #9724
In what context are you needing the answer?
Trustor of a Deed of Trust = Borrower
Trustor of a Trust = the person who created the trust, usually the same at the trustee.
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Reply by ceci, ca on 10/15/04 7:39pm
Msg #9909
Thanks Barbara.
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