Trust Administration

Trust administration is the management of assets that are in a trust. A trust is created when an individual (known as a settlor) places their assets into the care of a third party (known as the trustee) for the benefit of someone else (known as the beneficiary). In many cases, trust administration begins when the settlor of a trust passes away. Trust administration involves gathering the assets of the trust, managing the trust, paying any debts and taxes, filing tax returns, and distributing the remaining assets to the beneficiaries of the trust.

 

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