Duties of A Trustee

• Identify and assemble the trust assets

• Protect the trust assets

• Invest the trust assets

• Determine who the trust beneficiaries are

• Comply with all record keeping requirements

• File all necessary income and other tax returns

• Prepare a final accounting

• Observe the “prudent man rule” (Conservative view)

• Observe the “prudent investor rule” (Invest for both income and principal beneficiaries)