A trustee is the fiduciary who holds legal title to trust assets and manages them according to the trust document's terms. They have a legal obligation to act in the best interest of the beneficiaries.
Trustees can be individuals (a family member, friend, or the grantor themselves in a revocable trust) or institutions (banks, trust companies). Many plans use a combination — a corporate trustee for investment management and an individual for distribution decisions.
Choosing the right trustee is one of the most consequential decisions in estate planning. A poor choice can lead to mismanagement, family conflict, or failure to execute the grantor's intentions.
Successor trustees — who step in when the original trustee can no longer serve — are equally important and often overlooked.
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