When the Trust is established, the Settlor transfers his assets to the Trustee, who, from that point, administers and manages the assets; the transfer in this case is not for money, as this is not a purchase, but, legally speaking, a type of gift. Although the Trustee becomes the holder of the assets, the duality of ownership remains, as the legal system also recognises the Settlor's ownership rights. However, once the Settlor has transferred the assets, he can declare: "Those assets are no longer mine." The regulations for the establishment and operation of the Trust are set down in the Declaration of Trust. The beneficiaries are also named here, and typically the Settlor stipulates that while he is alive, he will also be a beneficiary. In the event of his death, however, the assets and/or the profit from the assets, must be transferred to the Beneficiaries named in the Declaration of Trust, in accordance with the conditions defined. In the event of the unfortunate and tragic death of the Settlor, it is the job of the Trustee to arrange matters in accordance with the Declaration, and to see to it that the assets are transferred to the beneficiaries, and that this is done correctly. It may be, for example, that the Settlor stipulates certain conditions relating to the transfer; for instance, children must come of age or must complete university studies, or his widow must remarry etc.