Who controls and manages the Assets of the Living Trust?
The Trustee controls and manages Living Trust assets. While the maker(s) of the Living Trust are living, the maker(s) (called Trustor(s), Grantor(s) or Settlor(s)) is/are also the Trustee(s) (and the surviving spouse is the continuing sole Trustee of the Living Trust in most cases). Upon the death or incapacity of the original trustee(s), a Successor Trustee distributes Living Trust assets to beneficiaries named in the Living Trust.
