Today’s question what are the powers
and duties of a trustee of a revocable living trust we’ve talked before about
how revocable living trusts work but today I want to talk a little bit about
the trustee and what their role is when forming your revocable living trust you
want to pick someone to act as trustee who is responsible and trustworthy with
money it’s also a good idea to pick someone who does a good job of managing
their own affairs because you’re placing this person in charge of managing your
affairs if you’re incapacitated and administering your estate after your
death a trustee is similar to a personal representative under a Will in that
they will be in charge of administrating your estate after death except if you
use a revocable living trust they will be doing it without court supervision
that’s an added reason that you want to pick someone who is trustworthy and has
initiative to follow the instructions you’ve laid out in your revocable living
trust each revocable living trust differs but in general your trustee will
have broad powers to buy sell and administer your
property following death look carefully at the powers granted in your revocable
living trust and talk with your attorney about which are appropriate for your
situation those are some of the powers and duties of a trustee in general if
you form a revocable living trust you’ll often name yourself as the initial
trustee and you’re married your spouse but after your death is when it often or if
you’re incapacitated comes into play that a third party will serve as trustee
great question I hope this has been helpful thank you for watching