What does a Trustee do?
The Trustee is responsible for administering the trust and managing the trust assets. Some of the specific duties and responsibilities of a Trustee include:
- Following all trust terms (unless they are illegal, impossible, or unconscionable).
- Communicating with beneficiaries.
- Investing trust assets using the “prudent investor” standard.
- Managing trust assets.
- Distributing trust assets.
- Keeping trust records.
- Preparing and filing trust taxes.
- Defending the trust if litigation occurs.