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Mr. Trump’s lawyers argue that under Florida law, revealing a settlor’s revocable trust while they are still alive violates a right to privacy guaranteed under the state constitution.

A trust is an agreement typically involving three parties: A settlor places something valuable in the care of a trustee for the benefit of a beneficiary.

Oesterlund was listed as the “settlor,” the person who “donates” property to a trust.

Plan sponsors, therefore, wear two hats: one as a settlor; another as a fiduciary.

Here, most trusts are irrevocable and are not self-settled, i.e., the settlor is not also a beneficiary of the trust.