Who is the Trustee?

Trustee is a legal term for a holder of property on behalf of a beneficiary. A trust can be set up either to benefit particular persons, or for any charitable purposes. Typical examples are a testamentary (will) trust for the testator's children and family, a pension trust to confer benefits on employees and their families, and a charitable trust. In all cases, the trustee may be a person or company, whether or not they are a prospective beneficiary. Trustees have certain duties, which may include but is not limited to:
  • Carry out the expressed terms of the trust instrument
  • Defend the trust
  • Prudently invest trust assets
  • Be impartial among beneficiaries
  • Account for actions and keep beneficiaries informed
  • Be loyal
  • Not delegate
  • Not profit
  • Not be in a conflict of interest position
  • Administer in the best interest of the beneficiaries
  • Follow state laws governing trusts, including laws governing investment strategies
  • The terms of instrument that creates the trust may narrow or expand these duties—but in most instances they cannot be eliminated completely. Our attorneys at Sagaria Law help clients daily to set up trusts that will be correctly administered according to their wishes. Come see us today and get started planning for life's unexpected events.
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