What is a trust administration?

A trust administration is the process of administering a trust that has been established and funded under the laws of New Hampshire. This process is the responsibility of the trust’s administrator, who has been appointed by the named trustee to act on behalf of the beneficiaries of the trust. The administrator is responsible for managing the trust’s assets, including collecting income, managing investments, and paying out distributions. The administrator must also provide an accounting of the trust’s assets to the beneficiaries and file any necessary taxes. The administration of a trust is an important part of trust and estate law in New Hampshire and must follow specific provisions set forth in the trust document. In order to ensure the trust is being properly administered, all parties involved must take the timely filing of any taxes and accounting reports seriously. In New Hampshire, the trust administrator is subject to certain fiduciary duties – meaning they must act in a manner that is consistent with the trust document and the interests of the beneficiaries. This includes being loyal to the beneficiaries, avoiding conflicts of interest, and managing the trust’s assets with care and expertise. In addition, the trustee must provide the beneficiaries with an annual report and provide information on any significant changes that have taken place during the year.

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