Should You Appoint One Trustee or Multiple Trustees for a Trust? Here's What to Consider

When establishing a living trust, one of the most consequential decisions you’ll make involves trustee selection. The question isn’t just about who manages your trust—it’s about how many people should share that responsibility. While the law doesn’t cap the number of trustees you can name, the practical considerations are far more nuanced.

The Case for Solo Trusteeship vs. Shared Authority

A single trustee model offers clarity and speed. Decisions get made quickly without the need for consensus or coordination. One individual bears clear accountability, and beneficiaries know exactly who to contact with questions. This streamlined approach works well for straightforward estates or when you have someone you deeply trust.

Multiple trustees for a trust, however, shift the dynamic entirely. By distributing authority among two or more individuals, you create an inherent system of oversight. No single person can unilaterally move assets or make major decisions. This collaborative structure reduces the risk that any one trustee acts in self-interest rather than the beneficiaries’ interests.

When Multiple Trustees Make Practical Sense

Consider multiple trustees if your estate is complex or substantial. Perhaps you have beneficiaries with competing interests—a business to manage alongside personal assets, or family members with different financial priorities. Trustees with complementary skills—one with investment expertise, another with family dynamics insight—can navigate these tensions more effectively.

The continuity factor matters too. If your primary trustee becomes incapacitated or passes away, having a co-trustee already in place means the trust doesn’t skip a beat. There’s no waiting for successor appointments; management continues seamlessly.

The Real Costs of Collaborative Trusteeship

Efficiency takes a hit with multiple trustees. Scheduling meetings becomes harder. Getting agreement on asset sales, distributions, or investment adjustments requires negotiation. Some trustees may need to be paid for their service, and multiple trustees mean multiple compensation arrangements.

Conflicts emerge when trustees have different philosophies about risk tolerance or distribution timing. A trustee focused on wealth preservation might clash with one prioritizing beneficiary access to funds. These disagreements don’t just create tension—they slow down trust operations precisely when beneficiaries may need quick decisions.

Setting Clear Rules to Make Multiple Trustees Work

If you decide multiple trustees for a trust is your path, clarity in the trust document is non-negotiable. Explicitly state:

• Whether trustees must agree unanimously or if a majority vote suffices
• Which decisions require consultation vs. which are within individual authority
• How trustees resolve deadlocks
• Whether beneficiaries can remove underperforming trustees

You should also name a successor trustee or co-successor trustees. Life circumstances change, and someone willing to serve today might not be available later. Having predetermined succession prevents future complications.

The Trustee’s Core Obligations

Regardless of how many trustees oversee your trust, each carries serious responsibilities. They must maintain detailed records of all transactions, manage assets prudently, and distribute funds according to your written instructions. Their fiduciary duty means they’re legally bound to prioritize beneficiary interests above their own—always.

Trustees must also keep beneficiaries informed. Silence breeds suspicion; regular communication about account status, major decisions, and timing of distributions prevents misunderstandings and disputes.

Making Your Decision

The right trustee structure depends on your estate’s complexity, the people available to serve, and your comfort with shared decision-making. Simple estates with trusted individuals handling them often thrive under single-trustee arrangements. Complex situations with divided assets or competing beneficiary interests typically benefit from collaborative oversight.

Before finalizing your choice, document everything. Define roles clearly. Plan for succession. These steps transform the trustee arrangement—whether single or multiple—from a potential source of conflict into a framework for smooth, aligned management of your legacy.