A revocable living trust is one of the most useful tools in an estate plan. It lets you keep control of your assets while you’re alive and well, helps your loved ones avoid probate when you pass, and provides a clear plan if you ever become incapacitated.
But a trust is only as good as the person managing it. That’s where the trustee comes in.
What Does a Trustee Actually Do?
When you create a revocable living trust, you usually name yourself as the initial trustee. This means you keep full control — you can manage your accounts and property just like you always have.
However, your trust should also name a successor trustee — the person (or institution) who will step in to manage things if you can’t do it yourself or after you pass away.
The successor trustee’s job often includes:
- Taking care of your trust assets — like investments, real estate, and bank accounts.
- Paying bills and handling paperwork.
- Filing trust tax returns if needed.
- Following your instructions for when and how to distribute money or property to your beneficiaries.
- Keeping good records and communicating with your family.
Qualities of a Good Trustee
This is a big responsibility, so think carefully about who to name. A good trustee should be:
- Trustworthy and fair-minded.
- Organized and detail-oriented.
- Comfortable handling finances (or willing to hire help).
- Able to communicate clearly with your loved ones.
Some people choose an adult child, sibling, or close friend. Others prefer a professional trustee, like a bank trust department or an attorney — especially if family dynamics are complicated or if the trust is large.
Tips for Choosing the Right Trustee
- Talk to them first. Make sure they’re willing and able to take on the role.
- Consider a backup. Always name at least one alternate in case your first choice can’t serve.
- Review it regularly. Your choice may change over time as people age, move, or as your assets grow.
Ready to Put a Plan in Place?
Choosing the right trustee is just one piece of a solid estate plan. If you’d like help setting up or reviewing your revocable living trust, our experienced team at Eastham Law Offices is here to guide you through it. Give us a call at 561-395-6800 or fill out our contact form — we’ll be in touch to help you get started.