However, you may be able to accomplish the same results through a durable power of attorney at less expense. Every trust must have a trustee, someone who will manage the trust's assets. Financial institutions may serve as the trustee but may require a minimum amount of assets to be placed in the trust in order to serve. Alternatively, you may want to name a family member, trusted advisor or a trusted friend. You should also name a successor trustee in case your first choice cannot serve, or you may want to name joint trustees to serve together.
Many people name a family member to serve as joint trustee with a financial institution.
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