The Settlor

Is the subject that establishes the trust and transfers to another subject (so-called trustee) certain goods – movable and immovable, money, social equity and other rights, including benefits and use derived from the goods and rights included in the fund itself – so that they are included in the “trust fund”.
Following the establishment of the trust, the settlor is no longer the owner of any right or power over the assets transferred to the trustee, which will be given to the trustee itself. However, in accordance with the provisions referred to in Article 2 of the Convention, the settlor may reserve for itself certain powers and prerogatives, while respecting the autonomy and discretion of the trustee.

 

The Trustee

Is the subject, natural or legal person, identified in the first instance by the settlor subject to the power and obligation of administering, managing and disposing of the goods transferred by the settlor, for the achievement of the objectives of the trust in accordance with the provisions contained in the statutory deeds of the trust and in compliance with the provisions of the applicable law.
In certain cases the settlor entrusts to itself the role of trustee, in these cases we are dealing with self-declared trust.

 

Beneficiaries

Are the prospective subjects (in the absence of beneficiaries and with the presence of a “purpose trust”), to which, in application of the provisions of the statutory trust deeds, are allocated rights or expectations for the trust fund, at the end of trust (“final beneficiaries”) or for income that may be generated by goods in the trust in the course of the duration of the trust (“income beneficiaries”).

 

The Guardian

Is the subject, natural or legal person, whose presence is only prospective, that performs a control function on the achievement of the objectives of the trust on the part of the trustee, while respecting the discretion and autonomy of the latter.