- A trustee is responsible for collecting all assets of an estate. This may include insurance policies, property deeds, and banking accounts, among other items.
- A trustee must successfully manage all assets within a trust. This may include investing them for growth, for the benefit of the beneficiaries.
Administering the Trust
- An estate must be administered exactly as specified within the trust. The trustee ensures that this accordance is maintained.
- A trustee must diligently keep accurate records pertaining to all transactions made by the estate.
- Specialists such as accountants, attorneys and other professionals may be consulted by the trustee as needed to successfully administer the trust.