Following these trust management best practices will help you meet your fiduciary duties, avoid disputes, and keep the trust on track to meet its goals. It’s about more than compliance — it’s about stewardship, professionalism, and earning the trust of those you serve.

High‑value art and collectibles enrich lives and can be a cornerstone of family wealth. Without thoughtful planning, however, they can become a source of tax headaches and family discord. Trustees and collectors should prioritize documentation, accurate appraisals, appropriate legal structures and open communication with heirs. Leveraging trusts or LLCs and professional guidance can ensure that collections remain intact, are enjoyed by future generations, and achieve philanth

Choosing the right successor trustee is about balancing trust, competence, impartiality, and availability. Whether you’re making the choice for your own estate or advising someone else, the goal is to select a trustee who will honor the trust’s instructions, manage assets responsibly, and keep things running smoothly for the beneficiaries.

Beneficiary disagreements are not an anomaly—they are a normal part of many trust administrations, especially when emotions and money intersect. A skilled trustee approaches disputes with patience, transparency, and a clear commitment to neutrality. By anticipating sources of conflict, communicating proactively, and using professional resources when needed, trustees can resolve disputes in a way that preserves trust assets, maintains family relationships, and fulfills thei

Dying without a will leaves distribution of your estate to state laws that may not align with your wishes. Intestacy statutes favor spouses and blood relatives and exclude many modern family members and causes you might care about. Executors and trustees must navigate complex rules, secure and value assets, manage probate proceedings, and treat all heirs fairly while facing potential personal liability. A thoughtful estate plan prevents these issues, shortens probate, and pro

Most trustee mistakes stem from acting too quickly, not fully understanding the role, or trying to do everything alone. If you slow down, communicate clearly, keep detailed records, and get professional help when needed, you’ll not only protect yourself but also the trust and its beneficiaries.

Preventing beneficiary disputes isn’t a one-time action—it’s an ongoing commitment to clarity, transparency, and fairness. By knowing the trust thoroughly, communicating proactively, treating sentimental assets with care, documenting decisions, and involving professionals when necessary, trustees can minimize conflict and focus on fulfilling their fiduciary duties. When prevention becomes part of a trustee’s daily practice, disputes are less likely to occur, and are easier to

Serving as a trustee is a serious responsibility. You’ve been chosen to manage someone else’s property, honor their wishes, and act in the best interests of the trust’s beneficiaries. The first month after you accept the role is critical — it sets the tone for your entire administration.

The decision of who should oversee your family’s trust is a crucial part of estate planning. Family trustees offer familiarity and a personal touch but can be susceptible to conflicts and mistakes. Corporate trustees provide expertise, impartiality and continuity, though at a cost. There is no universally “best” choice. Consider the trust’s complexity, family relationships, available expertise and desired level of professional oversight.

Serving as an executor is a serious responsibility. The first 90 days are packed with tasks—locating the will, securing assets, notifying heirs and creditors, inventorying property, opening an estate bank account, managing investments, paying debts and taxes, and preparing for distributions. By understanding your duties and following a structured process, you can honor the decedent’s wishes, protect the estate’s assets, and complete probate efficiently. Consult with attorneys

Acting as a trustee involves juggling investments, paying bills, filing tax returns, communicating with beneficiaries, and sometimes refereeing family disputes. Courts and statutes recognize that this work takes time and skill; trustees are not expected to serve without compensation. Many trust instruments simply state that a trustee is entitled to “reasonable compensation.” In California, for example, Probate Code § 15681 codifies the right to a reasonable fee.

By understanding your duties, proactively managing challenges, and maintaining open communication, you can effectively fulfill this critical role. Whether you’re managing a family trust or a more complex estate, the principles outlined in this guide will set you on the path to success.

Serving as a trustee means accepting fiduciary duties that require diligence, prudence, and impartiality. Your responsibilities include reading and understanding the trust document, securing and managing trust assets, investing prudently, keeping accurate records, filing tax returns, communicating with beneficiaries, and making distributions consistent with the trust’s terms. It’s a role that demands organization, record keeping, and often the assistance of professionals.