What is the nature and value of the assets?
The nature and value of the assets also has an impact on the selection of a Trustee. If a trust consists of a residence and cash, the beneficiary may be able to manage the assets without any assistance. If the trust consists of a closely held business, one or more family members who have been involved in running the business for multiple years may be the best choice to serve as Trustee, either alone or together with the beneficiary. If the trust consists of many complicated investments, real property held in limited liability companies, and requires sophisticated tax decisions, the beneficiary may prefer to not be a Trustee at all, and a professional Trustee, such as a bank, trust company, or attorney, is the best choice to serve as Trustee.