Understanding the Duties and Responsibilities of a Successor Trustee
What You Will Need To Do At The Grantor's Incapacity And/or Death
17. What Does The Successor Trustee Do At Death?
• Contacts attorney to review trust and
process
• Keeps beneficiaries informed
• Puts together team of advisors
• Inventories assets, determines current
values
• Makes partial distributions if needed
• Collects benefits, keeps records, files tax
returns
• Pays bills, does final accounting
• Distributes assets to beneficiaries as trust
directs