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The trustees role is to administer and distribute the assets in the trust according to your wishes, as expressed in the trust document. Trustees have the fiduciary duty, legal authority, and responsibility to manage your assets held in trust and handle day-to-day financial matters on your behalf.
A Trustee is considered the legal owner of all Trust assets. And as the legal owner, the Trustee has the right to manage the Trust assets unilaterally, without direction or input from the beneficiaries.
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.
For example, the directors of a bank may be trustees for the depositors, directors of a corporation are trustees for the stockholders and a guardian is trustee of his wards property.
The trustees role is to administer and distribute the assets in the trust according to your wishes, as expressed in the trust document. Trustees have the fiduciary duty, legal authority, and responsibility to manage your assets held in trust and handle day-to-day financial matters on your behalf.
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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.
The trustee cannot grant legitimate and reasonable requests from one beneficiary in a timely manner and deny or delay granting legitimate and reasonable requests from another beneficiary simply because the trustee does not particularly care for that beneficiary. Invest trust assets in a conservative manner.
The trustee has the power to acquire or dispose of property, for cash or on credit, at public or private sale, or by exchange. 16227. The trustee has the power to manage, control, divide, develop, improve, exchange, partition, change the character of, or abandon trust property or any interest therein. 16228.
A trustee can end up having to pay taxes out of their own personal funds if they fail to take action on behalf of the estate in a timely way. Of course, they can also face criminal liability for such crimes as taking money out of a trust to pay for their own kids college tuition.
A trustee is a person or firm that holds and administers property or assets for the benefit of a third party. A trustee may be appointed for various purposes, such as in the case of bankruptcy, for a charity, or for a trust fund.

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