Trust administration refers to the tasks associated with managing the assets, distributions, and filings of a trust. The tasks can often be quite complex and time sensitive. The trustee responsible for trust administration has fiduciary duties to carry out the intentions of the trustor and follow their other duties including managing investments and paying taxes. Trust administration can be very complex where the trust contains different types of investments and different beneficiaries. The process of managing a trust may involve seeking legal, financial, and other administrative aids depending on the needs of the trust. The tasks of trust administration also will include making appropriate filings after the death of the trustor and paying off financial obligations of the trust.
[Last updated in April of 2022 by the Wex Definitions Team]