In a living trust, who typically has control over the trust property during the lifetime of the grantor?

In a living trust, the trustee typically has control over the trust property during the lifetime of the grantor. This is because the trustee is designated to manage and administer the trust in accordance with the terms set forth by the grantor. The trustee has a fiduciary duty to act in the best interests of the beneficiaries while adhering to the grantor's wishes as expressed in the trust document.

The grantor can choose to be the trustee of their own living trust, allowing them to control the assets within it while still alive. This arrangement provides flexibility, as the grantor can make adjustments to the trust and manage the assets as they see fit. The trustee’s responsibilities may include managing investments, distributing income to beneficiaries, and ensuring that the trust complies with relevant laws and regulations.

Beneficiaries do not have control over the trust property; instead, they are entitled to receive benefits from the trust as specified by the grantor. Financial advisors and attorneys may provide guidance or manage certain aspects of the trust, but they do not possess control over the trust assets unless specifically appointed as a trustee.