Trust Administration: Trustee Duties

As a trustee for someone’s revocable living trust, you have been given a serious legal responsibility. Trustees are in charge of administering assets and handling any disputes that arise after the document’s creator (or trustor) passes away. 

Trust administrators have many tasks to perform. From investing assets to distributing property, It is important to have a clear understanding of the trustor’s wishes to fulfill your duties as trustee.

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Trustee duties often include:

  • Keeping clear records of your decisions and investments

  • Paying taxes and creditors on behalf of the deceased

  • Managing funds and stock portfolios

  • Assessing the value of trust assets

  • Accurately disclosing personal gain and any conflicts of interest

  • Distributing properties according to the trustor’s wishes

  • Managing accounts for underage beneficiaries

  • Contacting and informing beneficiaries about trust changes

  • Meeting the IRS deadlines for tax payments