Who chooses the Trustee?

The Settlor of the trust may appoint anyone to be the Trustee of the trust. This often leads to one of the most common trust mistakes, appointing the wrong person as Trustee. A Settlor frequently appoints someone close to him or her, such as a spouse, close friend, or family member, without taking the time to evaluate the individual’s suitability as a Trustee. People often think that appointing someone they trust to be the Trustee of their trust is all that is needed. While the Trustee certainly should be trustworthy, there is more to the job of the Trustee. Ideally, the individual should have a legal background as well as some experience in finance given the types of duties the Trustee will have when administering the trust. For larger, more complex, trusts, a professional Trustee is often the best choice