When you create a living trust, you can name yourself as the trustee during the course of your lifetime. When you act as the trustee for your living trust, you are in control of the trust assets. However, you also need to name a living trust successor trustee. The successor trustee is a person who you select to take over management of trust assets when you are no longer able to do so because you have become incapacitated or passed away. The successor trustee is responsible for the trust administration process after your death, among other potential obligations.