Should I Serve as a Trustee?

Being named as trustee of a trust, whether that is to manage assets on behalf of someone else or for yourself, involves responsibilities that are not readily apparent.  Prudent investment management, distribution decisions, and tax reporting obligations are core features of the job.  The best way to ensure a smooth experience for the trustee and beneficiaries is to build your administration practices on a strong procedural and legal foundation, understanding what is required by the terms of the document and by underlying law, and also what is within a trustee's discretion. 

Schooley Law Firm is here to help relieve the burden and leverage our two decades of experience to help you navigate this job efficiently and effectively.  However, if you are well into your term as trustee and have encountered new problems, we are here to help you get back on track.

ACTEC Fellows offer an overview of the trustee's responsibilities and the risks in this short video.