What is the role of a trustee?

The role of a trustee is to administer a trust. This entails managing the assets held in the trust for the benefit of the beneficiaries according to the terms set forth in the trust document. The trustee has fiduciary responsibilities, which means they must act in the best interest of the beneficiaries, manage the trust property prudently, and follow the instructions laid out in the trust agreement. This role also includes tasks such as making investment decisions, distributing income or principal to beneficiaries, and ensuring compliance with applicable laws and regulations.

In contrast, making a will pertains to the process of outlining how a person's assets should be distributed upon their death, which is not within the trustee's responsibilities. Creating a chain of title involves documenting the history of ownership of a property, and conducting a title search assesses property ownership and identifies any liens or claims against it, tasks typically performed by title agents or real estate professionals, rather than a trustee.