Who Can Be The Trustee?

A grantor who desires to manage his or her own financial affairs and who is physically and mentally able can (and ordinarily should) serve as trustee. But provisions should be made in the trust for a successor trustee to take charge in the event the grantor becomes unable to continue for any reason or in the event of the grantor`s death. Or, the grantor may simply desire to be relieved of asset management responsibilities, whether temporarily or permanently.

The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.

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