Personal Management Trust (PMT) are living trusts which may be revocable or irrevocable. The Trust is embodied in a trust agreement in which the Trustor creates a separate estate out of his general estate, to be managed by a TRUSTEE (TWMG), for the benefit of the designated beneficiaries, which could be the Trustor himself and/or a third person(s) who are usually the legitimate heirs of the Trustor.