Trustees face possible liability under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) because, as holders of legal title to property, they may be "owners" or "operators" of CERCLA facilities. Although CERCLA does not expressly address trustee liability and the U.S. Environmental Protection Agency, except for a brief mention in the preamble to its lender liability rule, has not formally addressed the subject, common-law trust principles support finding trustees liable for CERCLA damages in certain situations. This Dialogue examines the scope of trustee liability and the extent to which a trustee's personal assets may be exposed in cases where the trust is liable.