Terms of Trust Law and Legal Definition
The phrase ‘terms of the trust’ means the manifestation of intention of the settler with respect to the trust provisions. It is expressed in a manner that admits its proof in judicial proceedings. It includes all manifestations of the settler’s intention at the time of the creation of the trust. The intention is expressed by written or spoken words, or by conduct. The terms of the trust appear clearly from written or spoken words, or they are provided by statute. It is supplied by rules of construction and determined by interpretation of the words or conduct of the settler in the light of all of the circumstances surrounding the creation of the trust. [Cable v. Wells Fargo Bank N.M., N.A. (In re Cable Family Trust), 2010 NMSC 17 (N.M. 2010)].
