24 May 22 – WE Are The Trustor and Have Jurisdiction

Ollie’s First Lesson for today:

“When creating a trust, you may hear a lot of new or confusing terms — including words that seem similar, like ‘trustor’ and ‘trustee.’

Generally, trustors and trustees each play a unique role in the lifecycle of a trust: a trustor creates the trust, and a trustee is assigned to administer it.

Both trustors and trustees play a part in maintaining the trust according to the instructions laid out in the trust documents. Their duties can overlap if a trustor chooses to manage their own trust.

Ollie’s Second Lesson for today:

“The Preamble defines the context in which the remainder of the Constitution must be interpreted. Most of it is self explanatory. Here’s an explanation that points to popular sovereignty:

After the Declaration of Independence, but before the ordainment and establishment of the Constitution, the people of the United States pretty much handled their own affairs using the common law. They were not subject to any higher authority other than the authority of the common law as administered by the people themselves (self governance). Although the states did exist, they only existed by the authority of the people. Every man was a king, and every woman a queen–and none had any subjects. Upon declaring our independence, we all became sovereigns and members of the peerage (nobility).

The people of this State, as the successors of its former sovereign, are entitled to all the rights which formerly belonged to the King by his prerogative. Through the medium of their Legislature they may exercise all the powers which previous to the Revolution could have been exercised either by the King alone, or by him in conjunction with his Parliament; subject only to those restrictions which have been imposed by the Constitution of this State or of the U.S.”