Tabs navigation
Protecting settlor intent
The International Family Offices Journal
Vol. 3 - Iss. 2 pp. 30–37
Dec 2018
Todd Mayo offers another perspective on ways in which a settlor's trust should be drafted in a manner that would facilitate the implementation of the settlor's actual intent. He details the importance of having clear drafting, and gives a number of examples of traditional trust language that results in an unfortunate number of conflicts and court cases because the language is not clear. For example, ?a common source of ambiguity is the mixing of language of obligation with language of discretion? and ?common terms and phrases do not necessarily have consistent meanings?. He insists that ?writing in plain English is a vital part of not being misunderstood. It improves clarity and readability, and it makes the trust instrument more accessible to everyone who reads it. For a document that may affect many generations, that is vital?. His lesson is a refreshing one in the complex field of trust drafting.