Every trust needs a trustee to assume responsibility for handling trust assets. Your choices include:


Individual trustee: A friend or relative probably will be familiar with the parties involved and may well make the decisions desired by you, the trust creator.


Institutional trustee: Your local bank or trust company might have the resources to manage money and the staying power to handle long-term trusts.


To get the best of both worlds, consider naming an institution and an individual as co-trustees. You may get financial expertise and personal attention. If discretionary decisions are permitted, you can direct that both co-trustees must agree.


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