Settlor, Trustee, Beneficiary Trust Advice: Trust Jargon Explained
Settlor
If you were to set up a trust you would be known as the 'settlor'. This means that you would provide the policy to be put into trust.
Trustee
Certain people are appointed to manage the investment whilst it is in the trust. These people are known as the 'trustees'.
Beneficiary
Trustees hold the policy within the trust for the eventual 'beneficiaries' who will receive the proceeds of the policy when a certain event happens, for example: when you die.