When creating a trust, you should consider the roles and responsibilities of the Trustee and who would be appropriate to serve as Trustee. The Trustee is held to a high fiduciary standard and serves in (i) an administrative capacity by balancing checkbooks and paying taxes; (ii) an investment capacity by overseeing trust investments and often hiring an investment advisor; and (iii) a distributive capacity by deciding on appropriate distributions that can be made from the trust.
Roles and Responsibilities of a Trustee
