Choosing the right person to manage your trust is more than just a legal formality—it’s a pivotal decision that determines how your legacy unfolds. At Miller & Miller, we guide clients through this process with the clarity and care it deserves.
The trustee holds significant responsibility, overseeing the steps from asset management to final distribution. Getting this right can make all the difference between a smooth transition and a stressful legal mess for your loved ones.
What is A Trustee, and What Do They Do?
A trustee is the person responsible for carrying out the terms of a trust after the grantor passes away. This individual ensures that property, finances, and other assets are distributed according to the instructions outlined in the trust. According to the IRS Publication 559, a personal representative of an estate, which includes executors and administrators, is in charge of managing a decedent’s property. Executors named in a will must handle filings, pay off debts and taxes, and distribute assets to beneficiaries as directed. If no one is named, a court may appoint an administrator to perform the same duties.
In the case of a trust, the trustee coordinates with attorneys and financial institutions, maintains proper records, and may be involved in resolving any disputes. Their role requires diligence, clear communication, and a willingness to follow legal and ethical guidelines closely.
Key Qualities to Look for in a Trustee
Reliability tops the list. The person you appoint should be organized, responsive, and financially literate enough to manage your affairs. Trustworthiness is non-negotiable, as they’ll be handling private matters that affect your family and your finances.
Beyond that, availability makes a huge difference. Your trustee will need to invest time over weeks or even months to see the process through. People often consider friends or relatives, but proximity and commitment are sometimes more important than closeness.
Finally, look for someone who can navigate family dynamics without adding to the stress. A calm, level-headed individual who listens well and follows instructions closely can help minimize conflict. It’s often a good idea to ask your proposed trustee whether they feel comfortable taking on the role before making anything official.
Can a Family Member Be Your Trustee?
Yes, but with important considerations. Naming a family member as your trustee is common, and in many cases, it works out just fine. However, the role can place a lot of pressure on someone already grieving. Tensions may also arise if beneficiaries disagree with decisions being made.
You’ll want to be sure the person understands the responsibilities they’re taking on and that they’re emotionally and logistically ready to handle them. In some cases, choosing a professional or third-party fiduciary outside the family can prevent potential misunderstandings or delays.
In Brooklyn and throughout NYC, it’s also indispensable to consider the legal requirements and potential tax implications for anyone serving in this role. A quick discussion with a trust and estate attorney can help you decide what’s best for your unique situation.
Common Mistakes to Avoid When Choosing a Trustee
It’s easy to default to someone you love and trust without thinking through the full picture. But mistakes in this process can cause real complications. According to Blue Notary, one major error is selecting someone simply because of their relationship to you, even if they’re not well-suited to the job.
Other pitfalls include:
- Naming someone who doesn’t have the time or willingness to commit
- Forgetting to update your trustee if their situation changes (like relocating or facing health challenges)
- Choosing someone who isn’t familiar with legal obligations can lead to missteps and liabilities
- Failing to name an alternate trustee in case your first choice can’t serve
These are preventable issues. Having honest conversations now and reviewing your estate plan every few years can go a long way.
Consult Now a NYC Trust and Estate Attorney for Guidance
Selecting a trustee is one of the most personal decisions in your estate plan, and it deserves real thought and care. At Miller & Miller, we help individuals and families across NYC make informed, confident choices about trusts, wills, and long-term planning. Whether you’re just starting to organize your affairs or reviewing an older plan, the right legal support can make things more transparent and more manageable.
Contact us at 718-875-2191 and let’s make a plan that works for your life and your legacy.
