Name: Baker, Nelson & Williams, LLP
Documents
Diversity Profile
Practice/Industry
Group(s)
Practice Areas: General Practice. International, Corporate, Securities, Finance, Commercial, Real Estate, Trusts, Estate Planning and Probate Law, Public Offerings and Private Placements. Litigation in all State and Federal Courts.
Location: New York (New York Co.)
Trusts: In common law legal systems, a trust is a relationship whereby property is held by one party for the benefit of another. A trust conventionally arises when property is transferred by one party to be held by another party for the benefit of a third party, although it is also possible for a legal owner to create a trust of property without transferring it to anyone else, simply by declaring that the property will henceforth be held for the benefit of the beneficiary. A trust is created by a settlor, who transfers some or all of his property to a trustee, who holds that trust property for the benefit of the beneficiaries. In the United States, the settlor is also called the trustor, grantor, donor or creator. In some other jurisdictions, the settlor may also be known as the “founder”.