What are the duties of a Trustee?
A trustee is a fiduciary of the trust. This means that the trustee is held to a high standard and has to exercise a high degree of care when dealing with the trust. The trustee also has a duty to follow the directions of the trust as to how the trust should be managed. Furthermore, the trustee needs to make sure to consider the beneficiaries interests and needs when making decisions. He or she will often be responsible for deciding the beneficiaries needs and must take this into account before using the trust money. Since the trustee is in charge of the income, the trustee will also be responsible for paying taxes and monitoring the income. Being a Trustee is a job that should not be taken lightly, it is very important and a huge responsibility.