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Understanding The Duties Of A Trustee In Administering a Trust

By Sidney Kess and Edward Mendlowitz
The CPA Journal
June 2019

Trusts enable individuals to ensure the financial health of loved ones long after they are gone, but only if they are properly set up and administered. Trustees bear a great personal responsibility in ensuring that the trust is handled properly.  Sidney Kess and Edward Mendlowitz detail the different types of trusts, their taxation, and the trustee’s responsibilities, providing both planning strategies and advice for administering trusts after they take effect.


CPAs will occasionally encounter a client who is called upon to be a trustee and or to advise someone in that position and responsibility. In a previous CPA Journal article, “Preparing for a Spouse’s Death from a Financial Perspective,” the authors described how to set up a trust before death and what needs to be done to administer the estate. This article will discuss the actual handling of a trust, including what happens after the estate transfers assets to the trust.


Published with permission from The CPA Journal.

Click here for the full article.