Trust Planning: The Purpose of a Trust and How to Choose a Trustee

 Posted on August 05, 2026 in Wills and Trusts

Planning a trust can initially feel confusing, especially when it is part of an estate plan that already includes a will. The reality, though, is that setting up a trust can be a very effective way to manage and transfer property or other assets. Whereas a will is a plan that is only executed after you pass away, some trusts can take effect while you are still living.

At A. Traub & Associates, our Lombard, IL estate planning attorneys can help you set up a trust and appoint a trustee. We favor a personal approach for estate planning, tailoring our strategy to suit your long-term goals. We also have over 100 years of combined attorney experience, so you can rest assured that your case will be handled by a seasoned team.

What Is the Purpose of a Trust?

The state of Illinois allows a trust to be "created by a will, deed, agreement, declaration or other written instrument." State law says that the person establishing a trust may indicate any rights, powers, duties, or limitations applicable to the chosen trustee when establishing the trust (760 ILCS 3/103; 760 ILCS 3/105). Additionally, the grantor (the person creating the trust) may also specify any immunities for the trustee or beneficiary.

In other words, when you create a trust, you can decide who receives your assets and how you want them to be handled. The person in charge of the trust, called the trustee, manages those assets for the people you choose. Some trusts begin while you are alive, while others begin after you pass away. In some cases, the person who creates the trust may also serve as the trustee.

You should consider creating a trust to ensure assets pass more smoothly to a beneficiary. A trust may also help you provide for family or friends and set rules for how your assets will be managed.

What Kinds of Trusts Can I Include in My Estate Plan in 2026?

A trust can help you control how your property is used and shared after you pass away. Illinois law allows several kinds of trusts, and each one serves a different purpose. Picking the right trust depends on your goals, your family, and the assets you own.

Revocable Living Trusts

A revocable living trust is one of the most flexible estate planning tools available. You can change or cancel this trust at any time while you are alive. You can place your assets into the trust and name yourself as the trustee, so you keep full control over your property.

When you pass away, a successor trustee steps in to manage and distribute the assets. One major benefit is that assets properly transferred into a revocable living trust often skip probate court. This can save your family both time and money.

Irrevocable Trusts

An irrevocable trust usually cannot be easily changed or canceled after it is created. However, changes may be allowed in some situations. The person creating the trust generally gives up some control over the assets placed in it. Depending on how it is set up, an irrevocable trust may be used for tax planning or to protect assets from creditors.

An irrevocable trust may also affect whether someone qualifies for certain government benefits. The result depends on how the trust is written and funded. Because this type of trust can be difficult to change later, it requires careful planning.

Testamentary Trusts

A testamentary trust is created through your will, not while you are alive. This trust does not take effect until after you pass away and your will goes through probate. Parents often use testamentary trusts to leave money to children in a structured way.

For example, you could set up a testamentary trust so a child receives funds at certain ages instead of all at once. This can help protect young beneficiaries from receiving a large sum before they are ready.

Special Needs Trusts

A special needs trust is designed to support a loved one with a disability while helping protect their eligibility for government benefits. Programs like Medicaid and Supplemental Security Income have strict limits on how much money a person can own.

If you leave money directly to a family member with special needs, they could lose access to these benefits. A special needs trust, when set up and managed properly, allows funds to be used for extra comfort and care. This includes therapy, equipment, or personal expenses. It also preserves their eligibility for public assistance.

Charitable Trusts

A charitable trust lets you support a cause you care about while also providing benefits to your family. With a charitable remainder trust, you or your loved ones can receive income from the trust for a set time, and the remaining assets go to a charity afterward.

A charitable lead trust works the other way around, giving income to the charity first before passing the remaining assets to your family. These trusts can also offer tax advantages depending on how they are structured.

Who Should You Name as a Trustee?

When choosing a trustee for your estate plan, there are a number of factors to consider. It is a major decision that comes with real responsibilities for the person overseeing your assets. Illinois law requires a trustee to review the trust’s assets within a reasonable time and make decisions about whether to keep or sell them. It is important to choose someone who is both willing and capable of making sound decisions regarding your property.

What Is a Successor Trustee?

A successor trustee is the person or institution that takes over management of a trust when the original trustee can no longer serve. This often happens due to death, incapacity, or resignation. The successor trustee is responsible for following the instructions laid out in the trust document.

 Duties can include paying debts, managing investments, filing tax returns, and distributing assets to beneficiaries. Choosing a reliable successor trustee is one of the most important decisions when setting up a trust. This person will carry out your wishes when you are no longer able to manage the process yourself.

Contact a Lombard, IL Trust Lawyer

Our skilled DuPage County, IL estate planning attorneys can help you set up trust documents according to your wishes. Call A. Traub & Associates at 630-426-0196 for a consultation today.