How to Choose the Initial Trustee of Your Trust
When you establish a trust, you nominate someone to be the trustee. If you are creating a revocable living trust, you will likely be the initial trustee. You will also want to name successors or backup trustees to step in and manage the trust’s affairs if you can no longer manage the trust yourself. The trustee is in charge of managing the trust’s accounts and property. Specific duties can include collecting income, paying bills and taxes, making investment decisions, buying and selling property, providing money for you (during your lifetime) and your loved ones according to the trust’s instructions, keeping accurate records, and generally keeping things organized and in good order.