047: What Does a Trustee Do, Exactly?

This episode was requested by our front office team, because it's one of the most common questions we get at Obenauf Law Group. What is a Trustee supposed to do? In this episode, Meg walks listeners through what to do when you've been told you're the trustee of someone's trust and that person has passed away. We break down the first critical steps trustees must take, the documents needed, the responsibilities involved, and the overall process from start to finish.

Whether you've been prepared for the role or blindsided by it, this episode provides a clear, compassionate roadmap to help you understand your duties, stay compliant, and protect both the assets and the beneficiaries.

In this episode, you will hear:

• What should you do first when someone names you as their trustee
• How do you formally become the acting successor trustee
• When does a trust need a new tax ID number
• How do you gather information about assets, bills, and accounts
• How do you communicate clearly with beneficiaries
• What steps are required before making distributions
• How do you wrap up administration and close the trust

Resources from this Episode

Our Website - https://obenauflawgroup.com/

Our Office Number: 808 244 3905

Email: [e-mail]

Facebook - https://www.facebook.com/profile.php?id=61578857913516

Instagram: https://www.instagram.com/obenauflawgroup/

YouTube channel: https://www.youtube.com/@ObenaufLawGroup/

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Episode Credits

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