The terms of a trust are the guiding rules that are put in place when the trust is set up. They are irrefutable rules that must be followed to the letter of the law in order for the trust to be considered legal. Terms of a trust typically include how the income from the trust is to be distributed, how long the trust is to be in place, what assets are going to fund the trust, who the trustee is and who their successor will be should they be unable to fulfill their job. Other terms of the trust include who the beneficiary is and any provisions that are applicable such as spendthrift provisions.