The Settlor

The original owner of the property, who transfers ownership and control to a third party, namely, the Trustee.

The Trustee

The person or entity entrusted with the ownership and control of the property upon such terms and conditions as will have been laid down by the Settlor, usually in a written document called the Trust Deed. It is recommended that a corporate trustee be appointed. The Trustee is required to exercise his powers for the benefit of the Beneficiary (ies).

The Beneficiary

The person(s) who may either be named specifically in the Trust Deed or may be described as a member of a class (i.e. the children, grandchildren of the Settlor). The Settlor himself may be a beneficiary.

The Protector

Sometimes the Settlor may not know the Trustee well. He may feel he needs a family friend or local professional advisor to protect his interests or the interests of the Beneficiaries. The Protector has limited and specific powers, normally limited to hiring or firing a trustee.