You have decided that a trust is the best way to ensure that your family is taken care of after your death. The Ohio estate planning process comes with many questions, though, one of which involves who will manage the trust.
According to the American Bar Association, you have a variety of options in naming your trustee. In fact, you could choose a person, professional or entity.
The life of the trust
If you plan to design the trust to support your children through their education and help them settle into adulthood comfortably, you want someone who can perform trustee responsibilities until the date you choose. A financial institution has the advantage of longevity. On the other hand, if the trustee's main duties will be to distribute the assets immediately after your death, a family member or trusted friend may perform the duties without the cost.
The complexity of the assets
Leaving behind investment portfolios, real estate and other complex assets may require a significant amount of financial savvy to manage. Again, a financial institution has the advantage when it comes to handling these. However, a legal or financial professional may also perform these functions admirably, while providing the extra benefits of close and ongoing knowledge of the family.
You could still choose a friend or family member, even if the person you want is not adept at financial matters. In that case, you could simply include the stipulation that he or she maintains the trust with the help of professionals. You could also name co-trustees, assigning some of the more advanced requirements to a professional or entity and other duties to the individual. Because your situation is unique, this general information should not be taken as legal advice.