Asset Protection Trust - an offshore trust whose main object is the protection of a settlor’s property from future attack by creditors.

Bare Trust - a simple form of trust.

Beneficiary - a person who will receive benefits from a trust.

Declaration of Trust - a simple form of Bare Trust usually relating to ownership of securities by a nominee.

Deed - a legal term for a document establishing a trust and setting out in detail how it will work.

Discretionary Trust - a situation where the trustees have discretion as to who will benefit and in what amounts and how the trust will be invested.

Domicile - the country where the trust is established.

Forced Heirship - laws which force division of an estate upon death to specified people, i.e. spouse, children.

Fraudulent Transfer - the transfer of assets in order to avoid their attachment by people who have legitimate claims over them.

Governing Law - the choice of law to govern the operations of a trust. Grantor USA terminology for settlor.

Guardian - a person with similar duties to the protector.

Inter Vivos - latin term—“between the living”.

Jurisdiction - country the laws of which will be governing a situation.

Memorandum of Wishes - a non-legally binding memorandum detailing the wishes and intentions of the settlor as to how a trust is to operate and who will benefit.

Nominee - a person who acts on behalf of another.

Protector - a person nominated to monitor trustees.

Redomiciliation - movement from one domicile to another.

Settlor - a person who settles property into a trust, thus establishing it.

STAR Trust - a trust established under the Special Trusts (Alternative Regime) legislation of the Cayman Islands. This permits a purpose trsut to be established where beneficiaries have no power of enforcement.

Trust - an obligation on a person to deal with property over which he has control for the benefit of beneficiaries.

Trustee - a person or company that owns the trust property and administers it according to the provisions of the trust deed.

Trustor - USA terminology for settlor.

Will Trust - a trust arising as a result of the provisions of a will.

VISTA Trust - a trust established under the Virgin Islands Special Trusts Act enabling a BVI company owned wholly by the trust to be solely the responsibility of its directors.