Creating a trust is one of the best ways to protect your family and ensure your wishes are carried out—but even the most carefully drafted trust can fall apart if the wrong person is in charge.
That’s why choosing your trustee is just as important as deciding who gets what. The trustee is the person (or institution) responsible for managing your trust’s assets, following your instructions, and acting in the best interests of your beneficiaries.
Here are some key things to consider when selecting the right trustee for your family trust.
The name “trustee” says it all—you need someone you can trust completely.
This person will have access to your assets and the authority to make significant financial decisions. They must act with honesty, fairness, and complete transparency. Under Florida law (Fla. Stat. §736.0801–736.0817), trustees are held to a strict fiduciary duty, meaning they must always put the beneficiaries’ interests first.
If you have any hesitation about someone’s reliability or ethics, they’re not the right choice.
A trustee doesn’t need to be a financial expert, but they do need to be comfortable managing money, keeping records, and following complex legal and tax requirements.
They may be responsible for:
If your trust holds significant assets or business interests, consider a professional trustee—such as a bank trust department or licensed fiduciary—who has the systems and expertise to handle these responsibilities.
Family relationships can be complicated, especially after a loved one passes away. A good trustee should be able to stay impartial and handle decisions without being swayed by family pressures or emotions.
If you anticipate conflict among beneficiaries, appointing a neutral third party—such as a professional or co-trustee—can prevent tension and protect family harmony.
Serving as a trustee is not a short-term job. Trusts can last for many years—sometimes decades—especially if they benefit young children or multiple generations.
Ask yourself:
Some families choose a successor trustee structure, naming one person for the short term (such as a spouse) and a professional trustee for longer-term administration.
If no single person fits the bill, you can name co-trustees—for example, one family member and one professional fiduciary.
This hybrid model can provide the best of both worlds:
Under Florida’s Trust Code, co-trustees can divide responsibilities and act jointly or independently, depending on how your trust is drafted.
Your trustee will have enormous influence over how your legacy is managed and how your loved ones experience their inheritance. The right choice can preserve harmony and financial security; the wrong choice can lead to conflict and litigation.
When setting up your family trust, take time to consider who will best carry out your wishes with integrity, skill, and care.
We can help you evaluate options, explain fiduciary duties, and draft your trust in a way that ensures your trustee is set up for success.
Ready to start planning? Book a call today.
