Who can be a trustee of a trust?

In Texas, trustees are responsible for overseeing a trust, and ensuring its terms are followed. Generally, any adult who is competent and trustworthy can be a trustee. This includes the creator of the trust (the “grantor”), family members, friends, or professionals such as attorneys, or financial advisors. The trustee is responsible for administering and managing the trust and its assets in accordance with the instructions in the trust document. This includes collecting and managing the trust assets, and making distributions to the beneficiaries of the trust according to the grantor’s instructions. The trustee may also be responsible for filing tax returns on behalf of the trust. In Texas, trustees must adhere to the Texas Trust Code which governs the duties and responsibilities of trustees. The Code requires a trustee to act in good faith, perform all duties with reasonable care, and act loyally in the interest of the beneficiaries. The Code also establishes a standard of care to which trustees must adhere and outlines the circumstances under which a trustee can be held liable for breach of trust. The trustee should be someone who can be trusted to uphold the trust terms and administer the trust in accordance with the law. The trustee should be someone who will take their role seriously, and be willing to put in the necessary work to ensure the trust is properly managed.

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