by Kristen Ishihara and Chris Parker with Ishihara & Parker Law Firm PLLC

When creating a trust, one of the most important decisions you’ll make is choosing the right trustee. This person (or institution) will be responsible for managing your assets and carrying out your wishes—so it’s not a decision to take lightly.

What Does a Trustee Do?

A trustee manages the trust assets, follows the instructions in the trust, and acts in the best interest of the beneficiaries. This role may include paying bills, managing investments, distributing assets, or even maintaining property.

Who Can Be a Trustee?

Many people assume they need to appoint someone else right away—but in most revocable living trusts, you can serve as your own trustee while you’re alive.

From there, you’ll name successor trustees to step in if you become incapacitated or pass away.

Common options include:

• A spouse or partner (often as co-trustee)
• A responsible adult child
• A trusted friend or relative
• A professional such as an attorney or CPA
• A corporate trustee (like a bank or trust company)

What Should You Look For?

The most important quality is simple: trust.

Your trustee should be:

• Responsible and organized
• Honest and dependable
• Capable of making sound decisions
• Willing to act in the best interest of others

They don’t need to be a financial expert. In most cases, they can rely on professionals like attorneys or financial advisors for guidance.

When Should You Consider a Corporate Trustee?

In some situations, a professional trustee may be the better choice:

• If there’s potential family conflict
• If the trust is complex or long-term
• If significant assets are involved
• If the trust will last for many years (e.g., for minors or special needs beneficiaries)

Corporate trustees are experienced, regulated, and impartial—but they do charge fees, which you should review in advance.

Other Things to Consider

• Length of service: Will the trustee manage assets short-term or for many years?
• Complexity: More complex trusts may require more experienced management
• Location: While not critical, proximity can be helpful
• Backup plans: Always name alternate trustees in case your first choice can’t serve

You can even structure your trust creatively—for example, naming co-trustees or allowing beneficiaries to replace a trustee if needed.

Can You Change Your Trustee Later?

Yes. One of the advantages of a revocable living trust is flexibility. As long as you are alive and capable, you can update or change your trustee if your situation or preferences change.

Final Thoughts

Choosing a trustee doesn’t have to be complicated. Focus on selecting someone you trust to act responsibly and carry out your wishes.

And remember—every situation is different. It’s always best to work with an experienced estate planning attorney to ensure your trust is set up the right way.

Ready to review your estate plan?
At Ishihara & Parker Law Firm, we help Texas families protect their property and avoid costly mistakes. Contact us today to schedule a consultation and ensure your plan reflects your wishes.

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