Letter of wishes

Letter of wishes,

Definition of Letter of wishes:

  1. Written, non-binding instructions by the person establishing a trust (the settlor or trustor) for the guidance of the trustee. The settlor must choose his or her words carefully to avoid the impression that there never was a complete renouncement of the assets transferred to the trust, or that the settlor is trying to make the trustee his or her pawn. See also letter of instruction.

Meaning of Letter of wishes & Letter of wishes Definition