Choosing a Trustee
The trustee is responsible for carrying out the trust instructions, which may provide a great amount of discretion for that individual or entity to make decisions regarding investment and distribution of the trust property. The trustee also manages the trust’s assets for the benefit of the beneficiaries. Therefore, selecting the right trustee is a crucial aspect of estate planning. In most cases when establishing a revocable living trust, it is appropriate for the person making the trust to serve as the initial trustee. However, when the Trustmaker becomes incapacitated or dies, it is important that the right successor trustee is in place to control the trust. A discussion of possible successor trustee candidates with your estate planning attorney will help you appoint the appropriate family member, friend or professional trustee.