What is trust administration?

Trust administration refers to the process of managing and distributing the assets held within a trust. This typically involves a trustee, who is the individual or institution responsible for managing the trust according to its terms and in the best interests of the beneficiaries. The trustee is responsible for administering the trust for the benefit of the beneficiaries, managing and investing the trust assets, filing tax returns, and distributing trust proceeds. The trustee must adhere to the terms outlined in the trust agreement, which may include the creation of specific types of trusts, provisions regarding how and when assets will be distributed to beneficiaries, and instructions on the management of assets within the trust. Trust administration can be complex, requiring careful attention to legal and financial matters, as well as communication with beneficiaries and other stakeholders.