Trustees have the important duty of administering the trust itself, which includes a few responsibilities. A trustee is responsible for following the instructions laid out in the trust document to ensure that the decedent’s wishes are fulfilled.
The trustee must manage and protect all assets held in the trust, making sure that they grow over time. This may involve investing funds, buying and selling property, or managing bank accounts. The trustee must also identify and pay any creditors who are owed money by the deceased person’s estate.
A major responsibility of trustees is to administer distributions from the trust according to its terms. Trustees will distribute funds to beneficiaries as outlined by the creator of the trust, such as providing regular payments based on need or distributing certain investments or assets at specific times.
Trustees are also responsible for keeping detailed records of all activities related to the trust, including transactions and distributions. Trustees have a fiduciary duty to act on behalf of the beneficiaries and in accordance with the wishes of the creator of the trust. This means that they must be fair and impartial when making decisions about how to manage assets held in the trust. Failure to do so can lead to legal troubles down the line. This is why so many trustees count on our trust administration services to make sure they are in compliance with the law.
Thomas Steelman 
Crow Estate Planning 
Julia Mynhier 
