Question:
How do I go about choosing a Trustee?
Answer:
In Oregon, any competent adult can be the trustee. Commonly, the person creating the Trust acts initially as his own trustee naming a successor trustee in the event of death or incapacity. Most people appoint an individual such as their spouse, a relative, friend, or lawyer to act as successor trustee. In Oregon, a bank or Trust company can also act as trustee.
When selecting a trustee you should carefully consider whether the person is worthy of your trust and if he would be willing to accept the job. A professional trustee may be advisable if your property will be difficult to manage or distribute. The Trust document will describe the duties of the trustee to manage the Trust property, keep records, prepare tax returns, and make distribution to the beneficiaries. The Trust document will also designate a successor trustee or provide instructions on how to select the successor.