Whenever someone creates a trust, they must appoint a person or trust company to act as the Trustee who will manage, invest and distribute the trust assets and income according to their wishes. This can be a family member, a friend, a trusted advisor or a trust company. Trust companies, such as Truvera Trust Corporation, are often named as the Trustee due to the complexity, time demands, potential tax consequences, and personal legal liability involved with trust administration. In many cases, the Trustee will also be the Executor named in a Will.
If you wish, you can name Co-Trustees who will work together and share responsibilities, for example you could name your spouse together with Truvera Trust as Co-Trustees to manage your trust. This could prove helpful in the unfortunate circumstance of your spouse developing any future disabilities. If you name two family members to work together as Co-Trustees this could lead to disagreements and controversies which might end up damaging personal relationships. Naming an independent, impartial third party such as Truvera avoids these problems.