Introduction to Trusts

Who’s involved in a trust and what does each person actually do?

Introduction to Trusts (formerly Trustee Basics Module 1) introduces the main parties to the trust – the settlor, the beneficiary, and the trustee. Additional parties to the trust are introduced, such as advisors with specific oversight functions that may be required over several generations and common types of trustees and beneficiaries. The module concludes with applied learning, a helpful resource, and a concise summary of the trust concept, key terms, responsibilities, and duties of a trustee and beneficiary. This module is perfect for those with little or some basic understanding of the trustee role.

What You’ll Be Able to Do on the Other Side

• Identify the key parties in a trust and describe what each one is responsible for
• Recognize additional roles (like trust protectors and advisors) and how they show up in practice
• Map out the relationships between parties in a trust using a simple visual framework
• See how roles and relationships can shift over time as a trust evolves
• Reflect on how these relationships function—not just structurally, but in real life

The Experience

This module brings together foundational content and practical exercises so you can visualize how a trust works in real life. You’ll engage with selected readings from Family Trusts and The Trustee Primer, alongside expert perspectives from Patricia Angus.

You’ll also complete the Trustscape activity, mapping out the relationships between the different parties to a trust, and reflect on how those relationships show up in practice. The experience is designed to help you move from understanding roles on paper to seeing how they connect in a real-world context.

Estimated Completion Time: 2 hours

Featured Resources: 

• Podcast with Patricia M. Angus entitled, The Beneficiary Primer
•  Family Trusts: A Guide for Beneficiaries, Trustees, Trust Protectors, and Trust Creators by Hartley Goldstone, James E. Hughes Jr., and Keith Whitaker
• The Trustee Primer: A Guide for Personal Trustees by Patricia M. Angus