All trusts have three parties: the trustor, the beneficiary, and the ______.

In a trust arrangement, the three essential parties are the trustor (or grantor), the beneficiary, and the trustee. The trustee is the individual or entity entrusted with the responsibility of managing the assets held within the trust according to the terms set by the trustor. This role is crucial because the trustee has the fiduciary duty to act in the best interests of the beneficiaries, ensuring that the trust is administered according to its purpose and provisions.

The trustee's responsibilities can include making investment decisions, distributing income or principal to beneficiaries, and maintaining detailed records of transactions and communications regarding the trust. Therefore, the inclusion of the trustee as a key component of every trust is fundamental to its operation and purpose, as they act as the intermediary managing the trust assets while aiming to fulfill the trustor's intentions for the beneficiaries.

The other options, such as attorney in fact, broker, and founder, do not accurately represent the foundational components of a trust and do not play the same role in the context of trust management. An attorney in fact refers to someone authorized to act on behalf of another person, typically in a power of attorney arrangement, and a broker is associated with real estate transactions rather than trust management. The term founder is not commonly used in the context