Who Should Manage My Trust?

The person managing your trust, known as a trustee, can be anyone. Whether you choose a family member, close friend, or professional fiduciary such as an attorney or a bank, your trustee needs to be someone you not only trust but can handle all of the associated responsibilities. Key qualities to look for when choosing a trustee include:

• Trustworthiness
• Financial savviness
• Familiarity with your desires and hopes

Be mindful of the tradeoffs that can come and choose accordingly. For instance, a professional trustee may be impartial and handle money well but not know you thoroughly enough on a personal level to understand your wishes and carry them out accordingly.