Three Duties of a Trustee to a Beneficiary
The responsibilities of the Trustee of a trust, whether it is a living trust or a testamentary trust, surround those of any fiduciary relationship, and that means there is not only an ethical and ethical duty, but a legal one.
The duties of the Trustee of a trust, whether it is a living trust or a testamentary trust, surround those of any fiduciary relationship, which implies there is not just a moral and ethical duty, however a legal one as well.
A Trustee is entrusted with managing the property of a trust for the advantage of the named recipients within the trust documents– along these lines, 3 Trustee duties include:
1.Managing and safeguarding trust property with transparency.
2.Providing accounting and reporting of the trust property.
3.Following appropriate accounting procedures.
Recording a stock of the property of the trust, along with any liabilities of trust;
A trust lawyer can assist you comprehend your rights as a recipient, they can examine the terms of a trust and discuss their effect on you. A trust attorney may likewise help you create a trust that can help satisfy the estate planning goals of your family.