<p>At the time of the creation of a typical joint living trust, the  husband and   trustees, they completely control the trust property. If  one of them should die,   then the remaining spouse usually becomes the  sole trustee.</p>
<p>When both the husband and wife die, it is very common for the trust  to   dissolve and the trust property be given to the adult children of  the husband   and wife. If there are minor children remaining after the  husband and wife die,   then usually the trust will continue. Also, some  trusts continue after the death   of the husband and wife until the  adult children attain a certain age such as   thirty five.</p>
<p>If a trust continues after the death of the husband and wife, a  successor   trustee or trustees must be appointed. The successor trustee  is usually   determined in advance by the husband and wife and is  written into the trust   agreement. Sometimes a close relative such as a  brother or sister is chosen.   Occasionally one or more of the adult  children of the husband and wife are   appointed. However, since a trust  is a private entity and generally not subject   to review by a court,  it is sometimes not desirable to appoint a relative or   adult child a  trustee. An individual trustee might squander or misappropriate   trust  funds. Or an individual trustee might make improper or imprudent    investments. Since most trusts are not supervised by a court, it is very    important that responsible and honest trustee be appointed.</p>
<p>Often a corporate trustee will be appointed. This is usually a bank  with a   trust department that specializes in administering trusts.  Trust departments of   large banks generally render professional and  competent trust services. The   advantages of using a corporate trustee  are the impartial and professional   services rendered. Sometimes a  corporate trustee will be appointed jointly with   a surviving spouse or  an adult child as joint trustees. This is especially   important where  the surviving spouse or the adult child has no experience in   managing  trust property such as stocks, real estate, etc.</p>
<p>The ultimate selection of the successor trustee depends on the  preference and   instructions of the husband and wife and their decision  in this regard is   written into the trust instrument.</p>