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Jan 21, 2022 · Depending on the trust, a trustee’s duties can include managing trust assets, making distributions to beneficiaries, paying taxes, and creating an annual report of all income …

Trustees are entitled to reasonable fees for their services. Family members often do not accept fees, though that can depend on the work involved in a particular case, the relationship of the …

Jan 12, 2024 · An accounting is a detailed report of all income, expenses, and distributions from the trust. Usually, trustees are required to provide an accounting annually, but that may vary, …

Oct 6, 2023 · If you aren't comfortable with having a stranger manage the trust, it may be possible to choose a family member and a professional trustee as co-trustees. The downside to hiring …

Dec 21, 2023 · Ask for an accounting. If the trustee won’t provide it, seek a court order that forces them to share all information regarding the assets in the trust, including records of financial …

Dec 13, 2019 · What powers should the trustees have? Work With an Estate Planning Attorney You'll have to decide on these and other issues when setting up a trust. More complex trusts …

May 9, 2024 · The creator of a revocable trust, often called the "grantor," "donor," or "trustor," can make whatever changes she wants. She does not have to tell the beneficiaries that she is …

Dec 9, 2022 · Do you have the right successor trustees? Typically, you will be the trustee of your own revocable trust with your spouse as co-trustee (if you're married). Trusts should name one …

Mar 9, 2017 · Do the best you can now in picking a trustee but also make sure there is a mechanism in the trust that permits you and your husband to change trustees while you're …

Jul 24, 2024 · A trustee is the person or institution appointed to manage a trust on behalf of beneficiaries of the trust. Being a trustee is a significant responsibility. Those serving in this …