It depends on what you want the trustee to do. If you want them to make financial decisions for you while you are alive, it sounds like you want a power of attorney. Several lawyers have told me that they will not do that because of liability. If you want the trustee to manage your assets after you die, a lawyer or bank will do that, but they will charge the trust a lot of money. I am a trustee for a friend's trust who passed away, but wanted to fund her grandchildrens' college education. I don't charge the trust anything, but, if a bank were doing it, there would be a lot of charges for investment management, administration, tax returns, etc.
|