As a trustee, you are the legal owner of assets that belong to the beneficiary and have various duties to uphold. You have to manage the assets in a responsible manner until you transfer them. You will need to prepare and sign the necessary paperwork to indicate that you're acting as trustee and agree to the terms of the trust. You are also required to manage investments in different ways.

Manage Investments

You don't have to be a banker to be a trustee, but you may need the help of other professionals to help you manage investments. Your trustee duties may include maintaining the principal and trying make it grow to pay an income to beneficiaries.

Get Property Appraised

You may have to get real estate and personal property appraised in order to determine value. Property appraisals can help beneficiaries know the amount of their wealth. In addition, you may need the appraisal to sell the property.

Sell Property

The terms of the trust might require that you sell some of the trust property and distribute the proceeds. Trust laws allow you to be paid for any professional fees that you incur while carrying out your trustee duties. For example, paying a real estate agent commission for selling property. Trustee duties vary according to trusts. Read the trust document carefully before you agree to act as a trustee.

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