Category - Trustee
A Trustee is the individual or company who manages the affairs of the Trust for the benefit of the Trust Beneficiaries. During the lifetime of the Grantor (the one who created the Trust) the Trustee is usually the Grantor, unless the law prohibits them from serving.
Successor Trustees are those who manage the affairs of the Trust after the Grantors are no longer available. You can either choose a family member (or trusted friend) to serve, or hire a corporate Trustee (Bank Trust Department) or Professional Fiduciary.
The Trustee has a Fiduciary Duty to the Beneficiary, which means all Trust business (investments, management, etc.) must be for the sole and exclusive benefit of the Beneficiary, not for the Trustee themselves.