A trust is an arrangement whereby a person (the grantor) transfers property to a trustee, who manages and distributes it for beneficiaries, as directed by a trust agreement.  

An everyday example: a parent gives money to a child to buy ice cream for siblings, with written instructions.  The parent is the grantor, the child is the trustee, and the siblings are beneficiaries; the note is the trust agreement.  

Most people with a revocable trust act as grantor, initial trustee, and initial beneficiary, and appoint a successor trustee to manage the trust if they cannot.  Upon death, trust beneficiaries are those named by the grantor in the trust document. There are many types of trusts addressing tax, asset protection, or benefits eligibility objectives.  Contact Oliver Law, P.C. to discuss trust options for your estate plan.