The Trustor's Role in a Revocable Living Trust
When a person creates a revocable living trust in Arizona, the trustor typically fills three roles.
- Trustor: The creator who sets up the trust and decides who receives the assets
- Trustee: The manager who handles the trust assets day to day
- Beneficiary: The person who benefits from the trust assets during their lifetime
Because the trustor wears all three hats, nothing changes in daily life. The trustor continues to buy, sell, and use all trust assets as before. No bank, court, or third party needs to approve transactions.
What Happens When the Trustor Dies
When the trustor passes away, the revocable trust becomes irrevocable by law. The successor trustee steps in and follows the trustor's written instructions. The successor trustee does not make the rules. They carry them out.
Key steps the successor trustee handles after death include:
- Obtaining a new EIN for the now-irrevocable trust
- Notifying beneficiaries and relevant institutions
- Managing and protecting trust assets during the process
- Paying outstanding debts, taxes, and expenses
- Distributing assets per the trustor's instructions
Why the Term Matters
Arizona attorneys and legal papers may use any of these three terms. Knowing they all refer to the trust creator avoids confusion. If you see any of these terms, they point to the same person.