Trustees are those with the legal authority to manage another person's assets as specified in that person's will or trust deed. Typically, the trustee retains and manages the assets, pays beneficiaries when they become due, and distributes any remaining funds upon death in accordance with the instructions laid forth by the trust's creator or owner. The living trust is the most typical type of trust. Any person may utilise a living trust to make arrangements for the management of property while the settler is still alive. A living trust is founded by a settler after the settler passes away.