Expect to Pay Your Trustee

Zoomer | January 1st, 2006

But unless it is a small family trust, you should seriously consider doing so.


Trusts are complicated structures and they must file special tax returns each year. There are also investment decisions to be made and other administrative matters to be attended to.


Unless the person you are considering as trustee has the knowledge and time to deal with these matters, it would be better to use the services of a trust company, a lawyer, or some other competent professional to look after all this.


Otherwise, your trust may end up in a tangled mess, which will cost more to sort out in the end.