Legal Question in Admiralty Law in Alaska
Who would be the Shareholders and Trustees in a Cestui Qui Vie Trust?
Asked on 11/02/17, 12:37 pm
1 Answer from Attorneys
Terrence Thorgaard Thorgaard Law Firm
The phrase "Cestui Qui Vie Trust" means, essentially the beneficiary or beneficiaries of a trust. A trust is formed when one or more persons, the trustor(s), transfers property (the trust assets) to one or more people or institutions (a trustee(s)) to benefit one or more other persons, the beneficiary or beneficiaries.
Thus there wouldn't be any shareholders, typically (unless the trust assets include shares in a corporation, in which case the shareholder(s) might be the trustee(s)). The trustees would be whoever was named as such by the trustor (or their successors as described in the instrument creating the trust).
Answered on 11/02/17, 2:07 pm
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