Who should be Trustee?
This question should be considered carefully. If your brother Fred is willing and able, he may be the cheapest trustee. But if Fred’s health turns worse or if he lacks financial administration experience (trust tax returns can be complicated), or if naming Fred would upset other family members, then another choice might be better. An independent corporate trustee can be impartial, always available, and competent. The trust could always name Fred as an advisor to the trustee. If the trustee is not a corporation, consider successor trustees in case the first person becomes unable or unwilling to take the responsibility of being trustee. Most trusts at least name a corporate trustee, such as our trust company, as the final successor trustee.
