Difference between Trustee, Settlor/grantor and beneficiary

Yes you can serve as your own trustee and with many Revocable Trusts, the Settlor/Grantor is also the sole beneficiary during their lifetime.   Be certain that you work with counsel that understands all of the gift, estate and income tax consequences of serving in these various roles. Due to the limitations of the Lawyers.com Forums, MaryEllen K. Bishop, Esq.'s (the "Firm") participation in responding to questions posted herein does not constitute legal advice, nor legal representation of the person or entity posting a question. No Attorney/Client relationship is or shall be construed to be created hereby. The information provided herein by the Firm is general, and requires that the poster obtain specific legal advice from an attorney. The poster shall not rely upon the information provided herein as legal advice nor as the basis for making any decisions of legal consequence.