A trust is a legal arrangement where management of property is
separated from the benefit of that property. This is created
when someone (the settlor), entrusts property into a trust
(managed by trustee) for the benefit of another (the
beneficiary). Trust administration refers to the management of
assets within the trust. The trustee is responsible for trust
administration, and holds the duty of fiduciary. The trustee
must protect the assets of the trust, and ensure they are used
according to the trust setup. The duties of trust administration
will vary according to the nature of the trust.