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- The responsibilities of a trustee include1234:
- Holding legal title to the trust property and acting as a fiduciary for the beneficiaries
- Observing the terms of the trust and complying with the duties and directions set out in the trust deed
- Acting impartially between beneficiaries and ensuring that one beneficiary doesn't suffer at the expense of another
- Managing and administering the finances of the trust per the instructions given
- Ensuring the safety of the assets and accounting for the funds and assets within the trust
- Keeping records of all transactions and distributing assets as required
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Since the trustee holds legal title to the trust property, he or she owes fiduciary duties to the beneficiaries who hold equitable title. The trustee must distribute the property in accordance with the settlor’s instructions and desires. His or her three primary jobs include investment, administration, and distribution.www.justia.com/estate-planning/trusts/trustee-dutie…The general duties of trustees are: To observe the terms of the trust - Trustees must learn the terms of the trust and comply strictly with the duties and directions set out in the trust deed. To act impartially between beneficiaries - Trustees usually have a duty to ensure that one beneficiary shouldn't suffer at the expense of another.www.irwinmitchell.com/personal/wills-trusts-estates…A Trustee is a person who acts as a custodian for the assets held within a Trust. He or she is responsible for managing and administering the finances of a Trust per the instructions given. Often, the person who creates the Trust is the Trustee until they can no longer fill the role due to incapacitation or death.
trustandwill.com/learn/trustee-definitionTrustees generally assume the following duties:
- Act as a fiduciary: The role of the trustee is to ensure the trust is administered in accordance with the grantor's wishes.
www.investopedia.com/terms/t/trustee.asp What Is a Trustee? Definition, Role, and Duties
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