Who holds legal title to the property in a trust and has a fiduciary duty?

The trustee holds legal title to the property in a trust and is responsible for managing that property in accordance with the terms of the trust agreement. This role includes a fiduciary duty to act in the best interests of the beneficiaries, ensuring that the trust assets are managed prudently and distributed as specified in the trust document.

The trustor, also called the grantor or settlor, is the person who creates the trust and contributes assets to it, but does not retain legal title once the trust is funded. Beneficiaries are individuals or entities that receive benefits or distributions from the trust, but they do not hold legal title to the trust property. The executor is typically associated with the administration of a will after a person's death, not with the management of a trust. Thus, the trustee's unique position as the holder of legal title and their responsibility to act in a fiduciary capacity to benefit the beneficiaries distinctly define their role within a trust.