Want to sue a Trust? You cannot! KEY TAKEAWAY: ALWAYS IDENTIFY THE TRUSTEE WHEN ENGAGING WITH A TRUST AND ASK FOR A COPY OF THE TRUST DEED. A trust is a legal relationship where a person, known as the "trustee," holds and manages assets or property for the benefit of another person or group of people, known as the "beneficiaries." The trustee has a legal obligation to act in the best interests of the beneficiaries and manage the trust assets according to specific terms and conditions outlined in a trust deed or agreement.   Here are some key characteristics and concepts related to trusts