First and most importantly, a Trustee is a fiduciary. This means that the Trustee must act on behalf of the best interests of the beneficiaries, in accordance with the terms of the Trust. Basically, the Trustee serves the Trust. The Trust property does not belong to the Trustee, rather it belongs to the beneficiaries.
Generally, a Trustee’s job includes the following: identifying and protecting trust assets; following the terms of the Trust; honestly speaking with beneficiaries and interested parties; regularly communicating with beneficiaries; managing and administering the Trust; and finalizing and closing the Trust in accordance with its terms.
If you have been designated as a Trustee for a loved one's Trust and have questions on how to administer the Trust, please contact our office.