You don't want a trustee dying before the job is done. Personally, I think individuals handle small trusts well, say several hundred thousand dollars or so. Usually, individuals save institution administrative fees, although they must frequently consult accountants and lawyers. In addition, honesty is a key factor. Larger trusts warrant an institutional trustee, costs and all.
Larger firms are accustomed to handling bigger money.
Finally, when a larger trust involves the needs of young people, older folks or disabled family members, appointment of institutional and individual co-trustees can be a good idea. So before you become totally embroiled in the debate over wills and trusts, take a minute to think about how the whole deal will work. Always remember Uncle Louie and the Purple Barracuda. Martin Paskind is an Albuquerque lawyer. His practice emphasizes legal services to small businesses.