Settlor Versus Trustee and Beneficiary
Three roles drive every trust. The settlor creates and funds it. The trustee manages it. The beneficiary receives the benefits. One person can hold all three roles in a typical revocable living trust during their lifetime.
Why the Term Matters
Arizona statutes refer to settlor rights, including the right to revoke a revocable trust and the right (or lack of right) of creditors to reach trust assets under A.R.S. 14-10505. Identifying who the settlor is matters for tax reporting, creditor protection analysis, and trust amendments.