In general, the Trustee is responsible for administering the trust using the trust terms created by the Settlor and managing the trust assets. Some of the specific duties and responsibilities of a Trustee include:
- Following all trust terms unless they are illegal or unconscionable.
- Communicating with beneficiaries.
- Investing trust assets using the standard set forth in the trust agreement.
- Managing trust assets.
- Distributing trust assets.
- Keeping trust records.
- Preparing and filing trust taxes.
- Defending the trust against legal challenges.