Trust Deed - the document which established the Trust and outlines its purpose and operations, and how Beneficiaries may benefit.
Trustee(s) - tasked with overseeing the assets held by a Trust and keeping proper records. A Trustee has a legal obligation to act in the best interests of the Beneficiaries.
Beneficiary(ies) - obtain benefits from the assets held by the Trust. The Trustee decides how and when the Beneficiary receives assets.
Settlor(s) - provides the first assets to the Trust, establishes the Trust Deed and selects the Trustees.