Don't Trust That You Know It All!
The process by which a Trustee manages the assets held in trust, either for the sole benefit of the person or people who created the trust or for the benefit of the beneficiaries when the trust becomes irrevocable. A Trustee is legally bound to follow the specific terms of the particular trust he or she is administering.
After the death of the settlor (trustor) or surviving settlor (trustor), the trust must be administered. Due to the complexities of the trust document and the procedural requirements mandated by law, it is best that a (successor) Trustee seek advice from professionals, including attorneys, to navigate the proper course of action and to make sure the terms of the trust are being following. Call Jones Torru Law Offices so we can chat about how this process works.