There are many different types of trusts that a person can set up.
The most common type is the revocable living trust.
Which allows someone to choose who will act as trustee for their estate on behalf of their beneficiaries in the event .
That they become incapacitated or pass away while still having legal capacity.
This blog post will talk about what a trustee does, how they go about performing this role.
And how you might be able to get started with your own implementation process if you need help!
The main objective of a trustee is to manage property for the beneficiaries.
And this includes handling assets that may be in both monetary and non-monetary form.
This can include managing funds as well as taking care of household items like furniture or vehicles.
Trustees have broad discretion when it comes to what they do with these assets .
Because there are few limitations on their power except those imposed by law or provided for in the trust document itself.
The trustee might also need approval before selling any real estate owned by the trust, disposing of investments held by them or distributing anything other.