Revocable Form Trust With Two Trustees
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FAQ
?The following are not proper persons within the meaning of this section: A person domiciled abroad; an alien enemy: a person having an interest inconsistent with that of the beneficiary: a person in insolvent circumstances; and, unless the personal law of the beneficiary allows otherwise, a married woman and a minor??
The administration burdens of the trust may also be reduced for each trustee serving as they can share the workload. If you name two or more, it is critical that you describe whether they must always act together or whether they can act independently of each other.
The Trustees can be the author, domestic members or associates, professionals such as accountants, attorneys, etc. a panel of banks or a Trust company, or any mixture of these people.
Ordinarily, a maximum of four Trustees can be appointed. A single Trustee can be appointed but it is usually recommended that you appoint at least two.
Further, there is no limit on the maximum number of trustees. But a minimum of two trustees are necessary to form a Trust. Also, the author generally cannot be the trustee.