Who typically serves as the trustee during their lifetime in a revocable living trust?

In a revocable living trust, the individual who typically serves as the trustee during their lifetime is the grantor. The grantor is the person who creates the trust and transfers assets into it. Because revocable living trusts are designed to provide the grantor with flexibility and control over their assets, the grantor often acts as the trustee while they are alive, allowing them to manage the trust assets directly. This setup enables the grantor to make changes to the trust, add or remove assets, and revoke the trust if desired, without needing to go through a court process.

The other roles mentioned, such as the beneficiary, attorney, or settlor, do not serve the same function as the trustee in this context. The beneficiary is someone who benefits from the trust but does not manage it, while attorneys can provide legal guidance but do not hold the responsibility of the trust's management unless specified in a separate agreement. The term "settlor" is often synonymous with "grantor," but in many situations, the grantor is more commonly referred to when discussing revocable living trusts. Thus, the grantor's role as the trustee emphasizes their active involvement and control over the trust's assets during their lifetime.