Not necessarily, although you should be thinking about this.  The attorney can give you good advice in selecting appropriate persons or entities to do these jobs.  You may name multiple executors and trustees (for example, you may name all of your adult children to serve as co-executors or co-trustees), but this isn't always the best idea.  The persons you name do not need to be related to you.  A family friend, a bank or another professional corporate fiduciary might be appropriate, with or without a family member serving as co-trustee.  All of these are options.  The right answer for you  will depend on the dynamics unique to your family.  The attorney can explain the pros and cons of the different kinds of designations and help you think about what will work for your family.

Last updated on January 6, 2011 by Glenn Karisch