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Have you been named trustee over someone’s Trust but are not sure what’s required of you or even where to start? You are not alone. Everyday, thousands of people are appointed as the Trustee over a loved one’s Trust, and begin the Trust Administration process. Administering the Trust can be extremely stressful; dealing with the management over someone else’s assets, then disposing of their assets can be an overwhelming experience. But with a little bit of planning and organization, you’ll be well on your way to being a confident successful trustee.

Trust Administration:

Trust Administration is the process in which the Trustee takes control over the assets funded into the trust to carry out instructions in the Trust document as specified by the trustor. The Trustee has fiduciary responsibilities to the Trust and its beneficiaries.

Responsibilities of a Trustee:

The duties of a Trustee vary depending on the complexity of the Trust. Some common duties include transferring assets to the heirs as stipulated in the Trust, providing recurring accounting reports to beneficiaries so they are up-to-date on Trust matters, filing income tax returns and paying taxes, making sure sufficient cash is on hand to pay Trust debts and that debt is paid in a timely manner. The subject matter of Trust Administration is complex, and most of the time, requires the assistance and expertise of accounting and legal professionals. Find out how you can get help, and how the Trust can cover that expense.

Creating a Trust Administration Checklist is a great way to start getting organized. For a preview of what lies ahead in your role as trustee, download our free report, “Trust Administration: Prior Planning Prevents Problems.” This free, no obligation report gives a sample Trust Administration Checklist, as well as teaches:

• The liabilities and responsibilities of a Trustee
• How to create a Trust Administration Checklist
• How to compute the amounts to be distributed to beneficiaries
• And you’ll discover everything you wanted to know about Trust compliance filings

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Trust Administration: Prior Planning
Prevents Problems

This amazing report will walk you through some of the many facets of Trust Administration and help you understand the responsibilities that lie ahead.

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FREE REPORT!

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