A trust is created when the person creating the trust (grantor/settlor) assigns control of property to another person (trustee) to manage for the benefit of other people or entities (beneficiaries). A trustee is a person chosen to be legally responsible for managing, investing and distributing trust assets in accordance with the wishes of the person who created the trust (settlor). Many people who have been assigned the duties of a trustee seek professional trustee assistance to help understand trusts and manage trust assets.