The "trust estate" refers to the property owned by a trust, both before and after the death of a settlor. A trustee only has responsibility for, and control over, the trust estate. Assets may be added to the trust estate by changing the ownership to the trustee, or by designating the trustee as a beneficiary. For example, the owner of life insurance may change the ownership of the policy to a trustee, or designate the trustee as the beneficiary of the policy. In either case, the trustee will acquire control of the policy proceeds upon the death of the owner.