If you’re single, you normally name yourself as trustee. If you’re married, you normally name yourself and your spouse as co-trustees. 

But you need to appoint one or more successor trustees other than you or your spouse in case you or your spouse becomes incapacitated. And of course you especially need a successor trustee when you (and your spouse) have died. 

Generally, the most efficient way to manage a trust’s assets after you (and your spouse) have died is to appoint a single successor trustee. Often, people name the oldest child or the child they think is the most responsible as the trustee. 

However, it’s also very common to appoint two or more successor trustees to manage things after you (and your spouse) have died because many families have a tradition of consensus decision-making or simply don’t want to hurt someone’s feelings by keeping them out of the decision-making and administration of the trust. These people are called successor “co-trustees.” 

Although children often make the best trustees, it is sometimes better to have a non-family member as a trustee. This could be a good family friend, a trusted advisor like a CPA, or a professional trustee like a trust company or a bank. 

If you find it this decision still to be difficult, we can help by listening and understanding your situation and then by listening to you as you think through the advantages and disadvantages of each choice.