Law & Legal & Attorney Wills & trusts

What Are the Duties of a Trustee to a Will?

    • A trustee for a last will and testament has several duties.Mein letzter Wille a€" Testament image by Marem from Fotolia.com

      A trustee for a will is a person who is given the duty of carrying out the instructions in the will. Many times the trustee is named in the will, but if not, trustees can be appointed by the probate court which handles the will. In addition to carrying out the terms in the will, a trustee's duties include preserving and protecting items listed in the will, being a holder of property on behalf of beneficiaries, remaining impartial to all beneficiaries, and protecting the will from legal challenges.

    Carrying Out the Terms

    • The first and primary duty of a trustee is to carry out the terms that are outlined in the will of the deceased. The specificity of the terms can vary depending on the will; some wills just have general outlines for instructions, while some wills have a letter of terms that spells out the deceased's wishes clearly and in detail.

    Protecting Property

    • Holding, protecting and preserving the trust property. In some circumstances, beneficiaries of items in a will aren't able to take possession of them for some reason, including being a minor, out of the country, incarceration, etc. In these cases, the trustee has the responsibility of maintaining the trusted items until such a time that the beneficiary can taken possession of the property.

    Impartiality

    • The trustee is expected to not favor one beneficiary over another and remain impartial. This is particularly important in cases where two or more beneficiaries squabble over the provisions in the will. The trustee is also specifically expected to defend the trust and all beneficiaries against anyone challenging the will's validity.

    No Delegating

    • A trustee is expected to perform the responsibilities given to him or her without delegating them to anyone else. Any duty which calls on the person to exercise skill and judgment, such as investment responsibilities, can't be delegated. That said, nothing prohibits the trustee from hiring professional experts for advice on some matters and their suitability to the trust.

SHARE
RELATED POSTS on "Law & Legal & Attorney"
Estate Planning For A Loved One With Special Needs - Seven Factors to Consider
Estate Planning For A Loved One With Special Needs - Seven Factors to Consider
How Montana Living Trusts Are Handled
How Montana Living Trusts Are Handled
Basic Estate Planning - 14 Ways to Make a Mess of Your Estate
Basic Estate Planning - 14 Ways to Make a Mess of Your Estate
Know Your Rights To Legal Compensation In Australia
Know Your Rights To Legal Compensation In Australia
The Oyster Fisheries Act
The Oyster Fisheries Act
1040 Instructions for Rhode Island
1040 Instructions for Rhode Island
How to Invest in Condo Real Estate
How to Invest in Condo Real Estate
Formula to Find Total Bond Expenses
Formula to Find Total Bond Expenses
How to Get a Copy of a 1099 Form From 2009
How to Get a Copy of a 1099 Form From 2009
How do I Change Illinois Voter Address Online?
How do I Change Illinois Voter Address Online?
How to Write a Letter for a Parole Board Hearing
How to Write a Letter for a Parole Board Hearing
How to Determine Country of Origin From Barcodes
How to Determine Country of Origin From Barcodes
How to Find Georgia Property Survey Records
How to Find Georgia Property Survey Records
What Is a Legal Conflict of Interest?
What Is a Legal Conflict of Interest?
How to Create a Stronger Truss
How to Create a Stronger Truss
Moving to Avoid Estate Taxes and Income Taxes? Absolutely Says One Maryland Couple
Moving to Avoid Estate Taxes and Income Taxes? Absolutely Says One Maryland Couple
Tying the Financial Knot - What to Know Before You Get Married
Tying the Financial Knot - What to Know Before You Get Married
How to Get Copies of Legal Proceedings
How to Get Copies of Legal Proceedings
How to Record a Mortgage in Arkansas
How to Record a Mortgage in Arkansas
How to Create DropDownList With Key Search in C
How to Create DropDownList With Key Search in C
How Do I Force Dragon 7 to Write Numbers Numerically?
How Do I Force Dragon 7 to Write Numbers Numerically?

Leave Your Reply

*