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    What are the Rights of the Settlor of a TAPT?
The settlor/beneficiary of a TAPT can retain the following powers and rights over the trust:

1. Power to veto a distribution from the TAPT;

2. Power of appointment, i.e., the power to direct the distribution of any remaining funds in the TAPT upon the settlor's death (other than a power to appoint to the settlor, the settlor's creditors, the settlor's estate or the creditors of the settlor's estate);

3. Right to receive income from the TAPT;

4. Right to demand up to 5% of the principal of the TAPT each year;

5. Right to receive additional principal if based on the trustee's discretion or in compliance with certain distribution standards;

6. Right to remove a trustee or appoint a new trustee; and

7. Right to reside in and use real property owned by the TAPT.

 
 
     
   
 
 
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