The Role of a Georgia Trustee: Responsibilities and Duties Explained

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Being a trustee in Georgia means you’re in charge of making sure a trust runs smoothly and follows the wishes of the person who created it. Let’s break down what that means and what you need to do:

  1. Putting Beneficiaries First: Your main job is to act in the best interests of the people who benefit from the trust. That means being loyal, fair, careful, and diligent in managing the trust’s assets and making decisions that help the beneficiaries.
  2. Taking Care of Trust Assets: You’re responsible for looking after all the stuff that’s part of the trust, like money, property, and investments. It’s crucial to handle these things wisely and responsibly.
  3. Following the Rules: The trust document spells out how things should be done. It’s vital to understand and follow these rules, including when to give out money or property and how to invest the trust’s funds.
  4. Keeping Everyone in the Loop: Communication is key. You need to keep the beneficiaries informed about what’s happening with the trust, like how the money is being used or any important decisions being made.
  5. Keeping Good Records: You have to keep accurate records of everything related to the trust, like how much money is coming in and going out. Sometimes you might need to report this information to the beneficiaries or even to the court.
  6. Making Smart Investments: You need to be careful with how you invest the trust’s money. This means thinking about the risks, spreading out investments, and getting advice when needed.
  7. Staying on Top of Taxes: Trusts have to follow certain tax rules. It’s up to you to make sure the trust pays any taxes it owes and provides tax information to the beneficiaries.
  8. Distributing Trust Assets: Ultimately, you’re responsible for giving the beneficiaries what they’re entitled to according to the trust’s rules. This might mean giving them money regularly or paying for things like education or medical expenses.

Being a trustee is a big responsibility, and it’s important to take it seriously. If you need help navigating all of this, consider reaching out to a trust attorney in Savannah. They can make sure you’re doing everything right and following the law. If you want to learn more or schedule a meeting, please reach out to our team and schedule a discovery call, by clicking here or call our office at 912-352-3999.

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