What is the responsibility of a trustee?

What is the responsibility of a trustee?

When creating a trust managing family affairs,  many of us designate a family member to serve as the trustee.      A surviving spouse.   The eldest child.  In many cases, a family member does this job without compensation.

If you have agreed to serve as a trustee, you may not really know what you just agreed to do.     You might even assume there is no legal risk in agreeing to serve as a trustee.

It’s not easy to find articles describing the job of a trustee that is not filled with legalese.   This articled titled “A Novice Trustee Primer”  does a great job of describing the responsibilities of a trustee and is is recommended reading  if you have a trust, are thinking about setting up a trustee, or if you have agreed to serve as a trustee.

 

 

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