A trustor is a person who creates a trust by contributing funds or assets to the trust, according to Investopedia. Other common terms that refer a trustor include a settlor or a donor.
A trust agreement allows holding of funds or assets on behalf of the trustor for the benefit of the beneficiary, explains The Free Dictionary. A person or a firm administering the funds or assets of a trustor is called a trustee, according to Investopedia. A trustee makes management decisions for the best interest of the beneficiaries; he operates with integrity and impartiality. An trustee can only benefit from the trust if the trust deed allows payment for services provided.