<Li> Protector: A protector may be appointed in an express, inter vivos trust, as a person who has some control over the trustee--usually including a power to dismiss the trustee and appoint another . The legal status of a protector is the subject of some debate . No - one doubts that a trustee has fiduciary responsibilities . If a protector also has fiduciary responsibilities, then the courts--if asked by beneficiaries--could order him or her to act in the way the court decrees . However, a protector is unnecessary to the nature of a trust--many trusts can and do operate without one . Also, protectors are comparatively new, while the nature of trusts has been established over hundreds of years . It is therefore thought by some that protectors have fiduciary duties, and by others that they do not . The case law has not yet established this point . </Li> <Li> Settlor (s): This is the person (or persons) who creates the trust . Grantor (s) is a common synonym . </Li> <Li> Terms of the Trust means the settlor's wishes expressed in the Trust Instrument . </Li> <Li> Trust deed: A trust deed is a legal document that defines the trust such as the trustee, beneficiaries, settlor and appointer, and the terms and conditions of the agreement . </Li>

Who has equitable title over the assets in a trust