How Many Trustees Can I Name for My Revocable Living Trust?


Attorney Thomas B. Burton discusses how many trustees you can name as Trustee of your Revocable Living Trust and discusses some of the pros and cons of naming multiple trustees or co-trustees.

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Full Video Transcript Below:

Today's question how many trustees can I

name as trustee of my revocable living

trust? The answer; it depends.

You can name one two or more trustees if

you wish in general if you're a married

couple we often the name both husband and

wife as initial trustees of the

revocable living trust then if you

should die or become incapacitated you

pick someone else to take over as

trustee when husband and wife are alive

they often serve as co-trustee with

each having the power to act alone

however after you die you can also name

co-trustees for instance if you want

two of your children to act together as

trustee that's totally fine please be

aware if you name them as co-trustees

talk with your attorney about whether

they must act jointly or separately

there's pros and cons to each method and

your attorney will be able to advise you

regarding your situation and which one is

best if you wanted to name three

co-trustees you could even do that I

caution against naming too many

co-trustees because of ease of

administration concerns and remember if

you say they must act jointly they're

all going to have to sign for each

action but in general it's up to you how

many trustees to name and the right

answer depends on your specific

situation.

Great question if this has been helpful

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and feel free to submit your questions

for future video blog question and answer

sessions.

© 2018. Law Office of Thomas B. Burton. All Rights Reserved.

#Trustees #RevocabelLivingTrust #WisconsinLaw #WisconsinEstatePlanning #WisconsinAttorney #AttorneyThomasBBurton #CoTrustees

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