A trust is a document that creates a legal agreement between three individuals in regard to a person’s wishes for their estate. Those three parties include:nn- The trustor. This is the person who creates the arrangement.n- The trustee. This individual holds the legal title to the trustor’s assets until they are distributed to the beneficiaries.n- The beneficiary. This can include one or more people who hold equitable title to the trustor’s assets and any income they generate.