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What are the three duties of a trustee?

The trustee must distribute the property in accordance with the settlors instructions and desires. His or her three primary jobs include investment, administration, and distribution. A trustee is personally liable for a bdocHub of his or her fiduciary duties.

What is the purpose of a trustee?

WHAT ARE THE RESPONSIBILITIES OF A TRUSTEE? A trustee takes legal ownership of the assets held by a trust and assumes fiduciary responsibility for managing those assets and carrying out the purposes of the trust.

What is the definition of a trust agreement?

What is a Trust Agreement? A trust agreement is an estate planning document that allows you to transfer ownership of your assets to a third party. In this case, your legal role is trustor, while the other partys role is trustee.

What does trustee mean in legal terms?

A trustee is a third party who is authorized by a settlor to execute and manage trust assets. A trustee holds the title of the trust asset. A trustee is a requirement of an express trust along with trust property, trust intent, and definite beneficiaries.