TSEM6243 - Legal background to trusts & estates: settlor is a trustee
»Ê¹ÚÌåÓýapp settlor can appoint himself a trustee. As trustee he has a legal interest (TSEM6018) in the property. But he cannot do what he likes with the property. As a trustee he holds the assets in a fiduciary capacity. This means he must exercise rights and powers in good faith for the benefit of beneficiaries.
»Ê¹ÚÌåÓýapp trust property does not pass to the settlor’s personal representatives when he dies.