A revocable living trust is an agreement between the “Settlor and/or Trustor” and the “Trustee”
to hold the trust assets for the benefit of the beneficiary of the trust. The Settlor is the person
setting up the trust and the Trustee is the person who manages the trust. In order to form the trust,
the Settlor transfers property to the Trustee to hold in the name of the trust. The Settlor is the
beneficiary during their lifetime. Please remember that the trust must be written with the
possibility that you might not always be the Trustee (e.g., in the event of your incapacity).