Connecticut General Statutes 45a-499fff – Creditor’s claims against settlor
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The settlor of an irrevocable trust shall not be deemed to have a beneficial interest in such trust merely because the trustee is authorized under the trust instrument or any other provision of law to (1) pay or reimburse the settlor for any tax on trust income or trust principal that is payable by the settlor under the law imposing such tax; or (2) pay any such tax directly to the taxing authorities. No creditor of the settlor of an irrevocable trust shall be entitled to reach any trust property based on the discretionary powers described in this section.
Terms Used In Connecticut General Statutes 45a-499fff
- Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
- Property: means anything that may be the subject of ownership, whether real or personal and whether legal or equitable, or any interest therein. See Connecticut General Statutes 45a-499c
- Settlor: means a person, including a testator, that creates or contributes property to a trust. See Connecticut General Statutes 45a-499c
- Trust instrument: means any instrument executed by the settlor, including a will establishing or creating a testamentary trust, that contains terms of the trust, including any amendments thereto. See Connecticut General Statutes 45a-499c