Trusts are legal creations designed to protect assets and distribute them over a period of time under certain conditions. The trust is created by a grantor, who initially owns the property, for beneficiaries, who eventually receive the assets. Therefore, trust distributions are an essential part of the operations and management of any trust. Trusts may …
Commingling assets is a common issue we see with our trustee clients, and it’s one that can land you in some serious hot water. While it takes a little extra work and bookkeeping to keep trust funds separate from your personal funds, it’s a trustee’s duty to do so. What are commingled assets? The term …
A significant portion of your duties as a trustee consists of distributing trust assets to trust beneficiaries. When making these distributions, it’s essential that you follow the directives in the trust instrument. What is a trust distribution? A trust distribution is a payment or other distribution of trust assets made by a trustee to one …