One of the main responsibilities of a trustee is the fiduciary duty owed by them. This means that he or she must put the trust's interests above all other interests. Not only should the trustee preserve the trust's property and assets, but he or she should also defend the beneficiaries against legitimacy challenges. Additionally, the trustee should separate his or her own personal property from the trust's property and handle all issues with attention to detail.
However, acting as a fiduciary does not end there. Newport Beach residents may not be aware that trustees may also have discretion with regards to decisions about distributions. Taxes must also be filed and tax obligations met. Trustees must also keep records of all that is happening with their responsibilities and duties.