Selecting a trustee is a vital step in creating a trust. Ideally, the trustee manages assets, ensures your wishes are followed, and acts in the best interest of beneficiaries.

It’s common to name yourself as the trustee of a living trust, particularly for revocable trusts, as this allows you to retain control during your lifetime. However, you must also designate a successor trustee to step in if you become incapacitated or pass away.

When choosing someone else, or a successor, consider two key traits: Trustworthiness and responsiveness. Your trustee will manage significant responsibilities, including investments and fund distributions. Choose someone with integrity who understands your goals and can act in the trust’s best interests. A trustee must also handle matters promptly, maintain accurate records, and communicate effectively with beneficiaries to avoid delays or disputes.

You can name a trusted individual or a professional, such as a bank or trust company. Professionals bring expertise and neutrality, while personal trustees may better understand family dynamics.