Who serves as trustee?

Annuitants cannot be the trustee nor have direct control of any kind over the trust.

The trustee may be any adult trust beneficiary or any person who is independent of the annuitants.

For example, an adult child who is also a beneficiary may be the trustee.

The annuitants' accountant, attorney, financial advisor, family friend or a relative who is not in the immediate family are all possible choices.

Another option is a NAFEP corporate trustee furnished by a NAFEP Associate member.

No matter who the trustee is a co-trustee can be appointed as an extra measure of security or comfort to the annuitants and beneficiaries. When a co-trustee is used all trust transactions require the signature of both the trustee and co-trustee.

In all cases the beneficiaries have the ability to fire and replace the trustee.