When you set up a living (revocable) trust — you (or you and your spouse if married) are the Trustee(s).

In the trust you name Successor Trustees to take over when you are incapacitated or deceased. This raises the important questions:

• Who do you want to make the decision that you are no longer capable of handling your own affairs (and thus the Successor Trustees will take over)?

Considerations:
Do you want one person such as your spouse to make that decision? More than one person? Your spouse and children? Your spouse and doctor? Two doctors? The choice is up to you, but think it through carefully.)

• Your trust will always name a Successor Trustee, but have you considered Co-Trustees or an independent Trustee?

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