You’ve Been Asked to Be a Trustee

Being asked to oversee a family trust is a big deal. It’s a huge responsibility, and one you may not feel prepared to accept. Even if you’ve participated in or been exposed to the world of trusts, you may not have the knowledge or skills to be an effective trustee right now. The first step in deciding whether to accept this role is to learn more about what it means to be trustee, including understanding the original intent and purpose of the trust, complying with the administrative obligations, carrying out your fiduciary responsibilities, and weighing the legal risks and other considerations.