A trust is a document you can create to have someone else manage some or all of your property during your lifetime or after your death. This document is called a trust agreement and the person you appoint as the manager of the property is called a trustee. The person who creates the trust is called the settlor, donor, grantor, or trustor (they all mean the same thing). The trustee can invest and manage the trust property for your benefit or for the benefit of another that you appoint in the trust. Whoever receives the benefit of the trust is called a beneficiary. In the trust you can set out the specific powers, responsibilities and duties of the trustee and they are obligated to follow these guidelines.