What is the Trustee?

Wills, Probate, and Estate Planning

The Trustee is the person responsible for administering your Trust, and making sure that the assets are well managed for the beneficiaries of the Trust. The Trust will be responsible for paying the expenses allowed to be paid from the Trust. Many people chose a trusted family member or friend to handle these important responsibilities. Bank and other financial institutions also may be the Trustee. However, such an institutional trustee is usually only involved in high value Trusts over multiple generations. An institutional trustee will charge a fee every year for administrative services.