The right trustee for your trust is someone organized, impartial, financially careful, and genuinely willing to take the job. That is often not your oldest child, and it is not automatically the person you feel closest to. Naming a trustee is a practical decision about who can handle years of recordkeeping, tax filings, and difficult conversations with family members, and choosing out of obligation rather than fit is one of the most common mistakes people make.
Our DuPage County estate planning lawyer can walk through the options with you and help you pick someone.
What Does a Trustee Actually Do in Illinois?
A trustee manages the trust’s property and carries out its terms. Under the Illinois Trust Code, 760 ILCS 3/802, a trustee must administer the trust solely in the interests of the beneficiaries. Other provisions require the trustee to follow the trust’s terms, act prudently, and treat beneficiaries impartially. The trustee has to keep trust property separate from their own and clearly labeled as trust property, maintain adequate records, and keep beneficiaries reasonably informed.