Should You Hire Professional Help? A Trustee’s Guide to Seeking Assistance
- Attorney Staff Writer
- May 6
- 5 min read
Updated: Aug 23
Serving as a trustee isn’t just a title — it’s a serious legal and financial commitment. You’re responsible for carrying out the trust’s instructions, protecting its value, and keeping beneficiaries informed, all while staying within the boundaries of the law. That means dealing with investments, taxes, property, and sometimes very complex assets. The challenge? Most people don’t have expert-level skills in all these areas.
While trustees can (and often do) handle many tasks themselves, there are moments when hiring professional help isn’t just smart — it’s necessary to fulfill your fiduciary duty and avoid costly mistakes. The key is knowing when those moments are and who to bring in.
1. Understanding the Role of a Trustee
Being a trustee is like running a small business — except the business belongs to someone else, you’re personally liable for mistakes, and your decisions are governed by a legal document and state law. You’re expected to manage assets responsibly, meet tax and reporting deadlines, maintain accurate records, and communicate effectively with beneficiaries. This isn’t a role where “learning as you go” is always safe; errors can have legal and financial consequences for you personally.
Example: Imagine taking on a trust with a mix of rental properties, brokerage accounts, and valuable collectibles. You might feel confident managing the bank accounts, but without specialized help, you could miss key deadlines for property taxes, fail to insure the collectibles properly, or make investment decisions that violate the prudent investor rule.
What to do:
Get a clear picture of the trust’s assets and obligations before deciding what to handle yourself.
Be realistic about your skills and time availability.
Build a roster of professionals you can call when needed.
2. When Legal Help Is Essential
Trust and estate law is a highly specialized area, and even seemingly simple trusts can hide legal landmines. The trust document may use vague or outdated language. Beneficiaries may interpret provisions differently. State law may impose requirements that aren’t obvious from the trust itself. An attorney who specializes in this field can help you interpret the trust correctly, stay compliant with the law, and navigate disputes without escalating them into lawsuits.
Example: The trust says a property should be “retained as long as practical,” but offers no guidance on what “practical” means. Two beneficiaries push for a sale; one insists it should be kept. Without legal advice, you risk making a decision that one side views as a breach of duty.
What to do:
Have an attorney review the trust before you begin administration.
Seek legal guidance on unclear provisions or when conflicts arise.
Use trust funds to cover necessary legal fees, if permitted.
3. The Value of a CPA or Tax Professional
Trust taxation is one of the most misunderstood parts of being a trustee. Trusts are separate tax entities, often subject to steep tax rates on undistributed income. The rules for deductions, capital gains, and income distribution are different from personal tax law — and mistakes can be expensive. A CPA who specializes in trusts can prepare accurate returns, identify tax-saving opportunities, and make sure you meet all federal and state deadlines.
Example: You assume the trust’s income will be taxed like your own and delay distributions to beneficiaries. At year-end, you discover the trust hit the highest federal tax bracket on income that could have been passed to beneficiaries at a lower rate.
What to do:
Hire a CPA with fiduciary tax experience.
Involve them early in the year for planning, not just at tax time.
Keep financial records organized and accessible.
4. Using Financial Advisors for Investments
If the trust holds investments, you have a duty to follow the prudent investor rule — meaning you must manage assets with care, skill, and diversification. This isn’t about guessing which stock will “do well” but about building a portfolio that balances risk and return according to the trust’s goals and timeline. A qualified financial advisor, ideally one who serves as a fiduciary, can design and maintain an investment strategy that meets these legal requirements.
Example: A trustee leaves all trust funds in a single tech stock because it’s been rising quickly. When the stock plummets, the trust loses 40% of its value. Beneficiaries may sue for failure to diversify.
What to do:
Choose an advisor who has fiduciary responsibility to the trust.
Require regular, written portfolio reviews.
Document the reasons for all investment decisions.
5. Property Managers and Appraisers
Real estate in a trust comes with ongoing obligations: paying property taxes and insurance, handling repairs, and, if rented, managing tenants and leases. Trustees who try to manage properties from a distance — or without relevant experience — can quickly run into problems. Property managers can handle the day-to-day work, while professional appraisers can establish fair market value for sales or in-kind distributions, protecting you from claims of undervaluing assets.
Example: A trustee sells a vacation home without an appraisal to “speed things up.” A beneficiary claims the sale price was $75,000 below market value and demands compensation.
What to do:
Hire a property manager for rental or long-distance holdings.
Get fresh appraisals before selling or distributing property.
Keep detailed maintenance and expense records.
6. Specialists for Unique Assets
Some trust assets require specialized expertise just to preserve their value, let alone sell or transfer them. Family businesses may need active management. Intellectual property requires timely renewals. Collectibles need proper storage and insurance. Without the right help, these assets can lose value fast — sometimes permanently.
Example: A trust owns a set of rare coins worth six figures. The trustee, unaware of proper storage requirements, keeps them in a damp basement, damaging their condition and value.
What to do:
Identify special assets during your initial inventory.
Research their care and management requirements.
Retain industry-specific experts when needed.
7. Balancing Costs with Benefits
Professional help costs money, and trustees are expected to be prudent with trust funds. But saving money by skipping expert advice can lead to much bigger losses. The real measure isn’t the fee — it’s the value of avoiding risk and making better decisions.
Example: You skip hiring an attorney to review a property sale, only to discover too late that the trust didn’t have clear title. Fixing the problem costs three times more than the attorney’s fee would have.
What to do:
Compare the potential cost of a mistake to the cost of the professional’s fee.
Treat essential services as part of your administration budget.
Remember that reasonable, necessary fees are usually payable from trust assets.
8. Knowing When to Step Aside Entirely
Sometimes the most responsible choice is to acknowledge you’re not the right person for the job — or that the trust has grown beyond your capacity to manage. Resigning and allowing a more qualified successor or a corporate trustee to take over can protect the trust and the beneficiaries, and it can also protect you from burnout and liability.
Example: You inherit a trust holding multiple commercial properties, each with different leases, repairs, and local regulations. The time and expertise required exceed what you can realistically provide.
What to do:
Follow the resignation process in the trust document.
Work with an attorney to transition responsibilities.
Provide thorough records to the incoming trustee.
9. A Decision Framework for Trustees
When deciding whether to hire professional help, ask yourself three questions:
Do I have the knowledge to do this correctly the first time?
What are the risks — financial, legal, or relational — if I get it wrong?
Will the cost of professional help likely save the trust more than it spends?
If you can’t confidently answer all three in favor of doing it yourself, it’s worth bringing in a professional.
Final Thoughts
Hiring professional help isn’t about giving up control — it’s about fulfilling your fiduciary duty and protecting the trust’s value. A well-chosen attorney, CPA, advisor, or specialist can save you from costly mistakes, give you peace of mind, and reassure beneficiaries that the trust is in good hands. Your role as trustee is to steer the ship, not personally turn every bolt. Sometimes, the smartest move you can make is to bring in the right crew.