Trustor

A trustor is the individual who creates a trust, and is also commonly referred to as the settlor or grantor of a trust. A trustor establishes a trust by defining its terms in the trust document and transferring assets into it. When a trustor transfers assets into a trust, the trust itself becomes the legal owner of those assets, which can include real estate, investments, personal property, etc. Typically, a trust is established so that the trustor can control how their assets are managed and distributed, protect assets from probate and taxation, and ensure that their wishes are carried out according to the trust’s terms. 

Through the trust document, the trustor specifies the provisions and instructions for how the trust will operate, including management, investments, and distribution to beneficiaries. This includes outlining timing and conditions for distributions, appointing trustees, and detailing any other special terms or conditions. 

The trustor may also appoint one or more trustees to manage and administer the trust. Depending on the type of trust and the trustor’s preferences, the trustee may be a family member, friend, professional advisor, bank, or trust company.