Keys to Fulfilling Your Trustee Duties
This six-page paper, written by a trust expert, goes into detail to outline the different options for meeting trustee obligations.
Learn more about the insight below, and fill out the form to download the full article.
Overview of our Guide
If you are considering naming a family member or friend as a trustee, are new to the trustee role, or are a current trustee looking to better understand your responsibilities, this article will help guide you in your role or decision making.
This article will offer:
- An overview of a trustee's key duties
- An understanding of the risks associated with being a trustee
- Options for filling-in any gaps in trustee expertise
Excerpt from the paper:
"To be sure, serving as a trustee can be a demanding and stressful job. This is why families often select those relatives or friends who are most reliable and have demonstrated a history of showing sound judgment. Some may, instead, hire a corporate trustee. Whether trustees decide to go it alone or to seek out third-party expertise, they will be expected to:
- Understand their responsibilities
Be knowledgeable about the relevant income and transfer tax laws - Oversee distributions from the trust
- Invest the assets in a prudent fashion
- Perform the necessary administrative functions
- File tax returns annually"
About Fiduciary Trust Company
At Fiduciary Trust Company, we view wealth planning not as a one-time exercise—but as an ongoing process that adapts as your life evolves.
Managing wealth and planning a legacy can be challenging in an ever-changing environment. We help high-net-worth individuals and families navigate complexity with confidence through customized wealth planning and integrated strategies that evolve with you.
Integrity — 140 year history of integrity, financial stability, and an unwavering commitment to the fiduciary standard.
Personal Service — You’ll have a single point of contact with an experienced advisor who is supported by a firm that is right-sized and nimble, with over $34 billion in assets under supervision and a 98% average annual client retention rate.
Disciplined Investing — Our proven techniques and focus on strong risk-adjusted returns are tailored to fit your needs, with tax sensitivity and cash needs considered throughout the investment process.
Expertise — Wealth planning, investment, trust, estate and tax specialists – as well as access to New Hampshire’s advantageous trust laws – bring a breadth and depth to help you realize your goals.