A trustee is the person or institution responsible for managing a trust.
The trustee does not get to do whatever they want. The trustee must follow the trust document and the law. The trustee’s job is to manage the trust property for the benefit of the people or organizations named in the trust.
The Trustee Follows the Trust Instructions
The trust document explains what the trustee is allowed or required to do.
It may say who should receive money or property, when distributions can be made, what bills should be paid, and how property should be managed.
The trustee’s job is to read those instructions carefully and carry them out.
The Trustee Takes Care of Trust Property
A trustee may need to manage money, real estate, business interests, personal property, or other assets.
This may include keeping property safe, paying expenses, working with banks or financial advisors, handling insurance, selling property when needed, or making sure assets are properly titled.
The Trustee Communicates and Keeps Records
A trustee often needs to communicate with beneficiaries and keep clear records.
This may include tracking money that comes into the trust, money that goes out, bills that are paid, property that is sold, and distributions that are made.
Good records help protect the trustee and help beneficiaries understand what is happening.
The Trustee Must Act Carefully
A trustee has a serious responsibility.
The trustee must act in the best interests of the trust and the beneficiaries. A trustee should not use trust property for personal reasons unless the trust allows it.
Because trustees have legal duties, many trustees work with an attorney, accountant, financial advisor, or other professional when administering a trust.
