What is the role of a trustee in a trust?

The role of a trustee in a trust is primarily to manage and administer the trust assets for the benefit of the beneficiaries. This responsibility includes a range of duties such as the investment of trust funds, the distribution of income or principal to the beneficiaries, and ensuring that the trust operates in accordance with its terms and applicable laws. The trustee acts as a fiduciary, which means they are legally obligated to act in the best interest of the beneficiaries, putting their needs above their own, ensuring that assets are handled prudently and according to the intentions of the trust creator.

This responsibility entails both a commitment to the beneficiaries and an understanding of the trust's objectives. The trustee must follow the specific guidelines outlined in the trust document, maintain accurate records, and provide transparency to the beneficiaries regarding the trust's activities and financial status. This critical oversight role is designed to preserve the assets and ensure proper management, which ultimately supports the beneficiaries’ interests.