Who can be a trustee of a trust?

In Washington, there are certain requirements for who can be a trustee of a trust. Generally, the person who creates the trust, known as the grantor, will also serve as the trustee. They are responsible for managing and administering the trust, making investment decisions, and distributing assets according to the directions of the trust. The trust may also name additional trustees to serve alongside the grantor. Any competent adult may be named as a trustee, though typically it is someone the grantor trusts and believes has the knowledge and experience to serve in such a capacity. Commonly, family members, close friends, or professional fiduciaries may be chosen. Sometimes, a trust may name a corporate trustee, such as a bank or other financial institution. These entities are often chosen when the grantor wants the trust to have a more professional, impartial third-party managing the funds. Washington law also allows non-human trustees such as businesses, non-profit organizations, or other entities to serve as trustees if the trust document explicitly allows it. This may occur if the grantor wants the trust to continue after their death and the trust contains specific instructions and restrictions for how the funds are to be used. To ensure those named and appointed as trustees meet the guidelines established by Washington law, it is important to consult an attorney who is knowledgeable on trusts and estates law. This will help to ensure that all of the requirements for who can serve as a trustee are met.

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