What is a trustee’s duties?

A trustee’s duties are to manage a trust according to the provisions outlined in the trust document. This includes managing the assets in the trust, making decisions that are in the best interest of the trust’s beneficiaries, and ensuring that all taxes and legalities are taken care of. In Texas, trustees are required by law to act in good faith when making decisions and managing the trust. This means that the trustee must follow the specific instructions that are outlined in the trust document, adhere to applicable laws and regulations, and act with the highest level of care. Trustees must also manage the trust’s assets prudently and in accordance with the trust’s purpose. This means that the trustee is responsible for investing, managing, and preserving the trust’s assets. The trustee must also monitor the trust’s investments and make appropriate changes to ensure that the trust’s assets are in compliance with applicable laws and regulations. In addition, the trustee must make sure that the proper taxes are paid on the trust’s assets, as well as timely distribute income and other assets to the trust’s beneficiaries. Additionally, trustees may be responsible for providing accountings to the beneficiaries to make sure that the trust is being managed properly. Finally, trustees must provide an inventory of the trust’s assets and must provide regular reports to both the beneficiaries and the court.

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