Greg talked about the responsibilities a Trustee has to the beneficiaries of a Trust. He/she must act in the best interests of the beneficiaries but also in accordance to the rules of law and how the Trust was written.

Greg gave a couple cases of where the Trustee wanted to sell off assets after a death and distribute it how they chose instead of who was stated as beneficiary but that cannot be legally done.

When the owner of a business has the business assets in a Trust then the Trustees may be called upon to make sure the business is profitable to protect its assets for the beneficiaries and possible provide for the key employees to be able to stay on.

Give Greg a call if you need a Trust set up or need advice on administering an existing Trust.