You are the Trustee of a Family Trust. Now What?
Setting up a Trust is the first part of the race. A Executor of the Trust takes the baton and crosses the finish-line.
Sometimes you don't know the questions to ask.
Be prepared. Learn more below.
I'm Laura and I will guide you through the essential duties of a Trustee with confidence and ease.
If you’ve been named a Trustee, you’re likely searching for answers to questions like: What does a Trustee actually do? How long does the trust administration process take? How do I avoid family conflicts?
While there’s plenty of legal and tax advice available, the real challenge is managing all the non-legal, non-tax aspects—file and account organization, communication with advisors and beneficiaries, and final decision-making.
That’s where I step in with solutions. I have been there.
I provide clear, practical coaching to help Trustees handle their responsibilities with confidence and avoid common pitfalls.
Work With me
Navigating Trust Administration with Confidence
Congratulations on your new role as a Trustee!
My six-part coaching program is designed to help you understand your responsibilities and make informed decisions. Whether you are preparing for or in the mist of the Trust Administration Process, I can help.
Some questions covered in the coaching program.
"What do the First 30 days of the Trust Process look like?""
"Top Ten Mistakes Trustees make-And how to avoid them."
"What do I do now that I'm the Trustee?"
"How long is this Trust process going to take?" "Do I need a lawyer or CPA right away for the Trust?" "What if I don't have one?"
"Am I personally liable if something goes wrong in the Trust process?"
"Can I be paid for Trust administration duties, education, and travel?"
"What steps do I take to administer a trust?" "When and how do I notify beneficiaries?"
"Do I have to file taxes for the Trust?"
"How do I value and distribute assets?"
"What records do I need to keep?"
"How do I avoid conflict with beneficiaries?" "How do I handle requests for early distributions?"
"How do I coordinate with advisors?"
"What’s the timeline for closing a Trust?"
While it may seem overwhelming at first, I am here to guide you every step of the way.
I will never ask you detailed personal or financial questions. We will deal in "general terms" like "bank", "investment", "sister", and "attorney", not who or what are those specific names. It's not necessary and it's for your protection.
Check out my new book!
The Trustee's Guide to Trust Administration:
Managing an Estate Trust with Confidence and Clarity
by Laura Elliott
You have been appointed a Trustee. Now What?
This book guides you through a general timeline of the process of Trust Administration.
Some of the Other topics covered in the Mentoring program
Things they don't tell you about being a Trustee.
Keeping things organized and on track while you are grieving a loss.
Record-keeping and documentation best practices.
Effective communication with Beneficiaries, including talking to adult children and their spouses about their inheritance and financial education.
Evaluating professional advisors.
Understanding financial statements and documents.
Discover how to extend your own Family legacy after the Trust process is complete.
Any issues unique to your family's trust.
And a listening ear during the overwhelming times....
My services include basic education on trust execution and one-on-one sessions to discuss your unique situation, completely confidential.
Success Stories
Before I started working with Laura, I felt overwhelmed with all the confusing aspects of executing a trust. My mom had just died after a long illness. The guidance and support I received made things so much easier. I was able to use the time on the attorney's billing clock very efficiently.
Caroline D.
I met Laura when I almost backed into her car at a gas station. I was so distracted with my mom's recent death, that I was not paying attention. When I got out of the car to apologize, she was so gracious. I explained why I was distracted and she gave me her card, told me that what she does: helps people organize estates and deal with all the non-legal stuff. And there was a lot of non legal issues. Family in-fighting about money, I didn't have an attorney that was familiar with the estate. I didn't know what to tackle first. Laura helped me prioritize the most important things.
Daniel S.
I was at a point of extreme frustration. My father died suddenly, and I was appointed the executor of his Trust. I was a working, single mom with a child, grieving the loss of my dad, and I was completely lost about where to even begin. You don't know what you don't know. Laura provided me with tools, resources, and advice from her experiences to help me facilitate the trust and to finish my role as a daughter strong.
Dana P.
Blog posts
"How long is this going to take?"
Most Trustees have a job, family, and a life, when someone close to them dies and they are appointed the Trustee. After final arrangements, the first 30 days are the busiest. If your loved one didn't have things organized, you will tackle that first. Then meeting with the estate attorney (or hiring one) and the tax accountant. Any messy issues from missing documents to frantic beneficiaries to monthly bills will emerge during this time. You can delegate to relatives and turn a lot over to the attorney and accountant. Which is great!But the first 30 days as a Trustee is spent gathering documents and accounts and filing paperwork. Basically compiling a complete inventory of debts, assets, bills, and property.
January 2025
"Can I be paid for this?"
Yes, you can be paid to administrate a Trust. The scope of pay, reimbursement for expenses, any educational expenses, and any travel expenses will be outlined in the Trust document and state law. So ask your estate attorney. In most Trust documents, the Trustee is the overall administrator, tasked with doing what is directed by the Grantor. Just like an attorney or accountant would get paid for their tasks relating to the legal and accounting aspects of the Trust process, you can get paid. However, for transparency and legal liability, make sure to document everything and have a set timeline for when you bill the Trust and get paid. I would suggest clearly outline to beneficiaries what you are doing, the time, travel, and energy involved, so they understand exactly how much you are really doing. This is a part-time or full-time job for a while. If you are doing it, it is probably way less an hour than what the attorney would charge for non-legal tasks.
May 2025
FAQS
Why Trustee Guidance?
Streamline this process in the time it takes to drink your morning cup of coffee. Ok, maybe two cups.
My resources and experience can help you organize paperwork and communicate efficiently with all your advisors. The Trustee Guidance Coaching Program is designed to assist Trustees with common pitfalls, fast track asset and expense organization with useable tools. Plus learn how to best communicate with professional advisors and beneficiaries.
Trustee Guidance vs. Estate Attorney or Tax Accountant
But, Laura, the estate attorney will handle everything.
While estate attorneys, tax attorneys and accountants play critical roles in navigating the legal complexities of estate and tax matters, they do not handle every aspect of estate settlement. Trustees are responsible for gathering necessary documentation, managing assets, paying bills, and communicating with various professionals, including estate and tax attorneys.
My comprehensive approach helps alleviate the stress of managing various responsibilities and ensures a smoother, more efficient process, avoiding common pitfalls.
Family members and beneficiaries will back you 100% in every decision you make, because you are in charge of the Trust.
In reality, executing and managing a Family Trust can often lead to disagreements among loved ones, especially during an emotionally-charged time. Differing opinions, personal interests, and misunderstandings about the Trust Grantor's intentions can all contribute to tensions.
Trustee Guidance's Coaching Program provides practical strategies and empathetic support to help Trustees manage family dynamics effectively. My services assist with clear communication, transparency, and conflict resolution, ensuring that you can honor your loved one’s legacy while maintaining family harmony.
Disclaimer:
Trustee Guidance does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. Clients should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.