A: When you create a trust, you’ll name a successor trustee. This is someone who steps in to administer the trust either because you have become incapacitated or you have passed. This person will manage and distribute your assets according to your wishes, so it’s important to choose someone responsible, organized, and trustworthy. If your family dynamics are complicated, you can consider naming a neutral third party. It is also important to name at least one or two backups, just in case your first choice is unable to serve as successor trustee.
The good news? Your trustee won’t have to handle everything alone. Successor trustees are encouraged to work with an attorney to guide them through the trust administration process. With the right support in place, your wishes will be honored and your loved ones protected.
