Trust administration is the management of an estate. An estate may include assets such as personal property, real property, and investments. When a trust is created, a trustee is named. The trustee is responsible for administering the trust as it is written. This means that the trustee is responsible for protecting the assets held in trust and ensuring that they are used according to the instructions of the trust instrument. The trustee is obligated to maintain accurate records, seek professional advice when necessary, pay taxes, report to the beneficiaries, protect trust assets, account for the assets, and make proper distributions to the beneficiaries. A trustee's highest obligation is to protect the assets in trust and the interest of the beneficiaries.
Commencement Bay Guardianship Services (CBGS) can be named to administer your trust. We have managed all different types of trusts for over twenty years and are very experienced. We stay up to date on all of the rules and regulations of trustees, know how to correctly document the use of the trust, and are a neutral third party. Hiring an agency to manage your trust takes the emotional aspect out of the picture and allows for the instrument to be managed exactly as requested by the trustor.
If you are a trust manager, but are not sure of what you should be doing, CBGS can teach you how to manage the estate properly by showing you how to correctly document your actions and report to the court and/or beneficiaries.
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