How do I choose a trustee, and what are their responsibilities?
Answer:
Choose a trustee you trust to handle money responsibly and carry out an important fiduciary role. The trustee must administer the trust under its terms and applicable law, so reliability, judgment, and the ability to handle the responsibilities are important considerations.
Our attorney compares choosing a trustee with selecting a personal representative or executor. Both roles involve significant fiduciary responsibilities and should be entrusted to someone dependable.
A central consideration is whether you trust the person to handle money responsibly. The decision should reflect the seriousness of managing property under the trust’s instructions and applicable legal duties.
A trusts lawyer can help explain the responsibilities involved and discuss whether the proposed trustee is suited to the role.