Serving as a trustee is an important responsibility. You are managing someone’s legacy and protecting beneficiaries’ interests. Yet many trustees feel overwhelmed by legal requirements and deadlines. Mistakes can lead to disputes or even personal liability. This article explains the essential trust administration duties for trustees in Ohio, timelines you should know, and common pitfalls to avoid. By understanding your role, you can carry out your responsibilities with confidence and care.

What Does Trust Administration Mean?

Trust administration is the process of managing and distributing assets according to the terms of a trust after the grantor passes away. Unlike probate, which involves court oversight, trust administration is usually private. However, trustees still have legal and fiduciary obligations under the law. Your role is not just about paying bills or handing out inheritances. It involves careful recordkeeping, communication with beneficiaries, and compliance with tax and legal requirements.

Key Duties Every Trustee Must Handle

If you are a successor trustee, here are the core responsibilities you need to understand:

· Notify Beneficiaries and Interested Parties

The law requires trustees to inform beneficiaries about the trust and their rights. This includes providing a copy of the trust document and your contact information.

· Secure and Manage Trust Assets

You must identify, safeguard, and properly manage all trust property. This may include real estate, bank accounts, investments, and personal property. The trust assets must be kept separate from your own funds.

· Pay Debts and Taxes

Before distributing assets, you must settle outstanding debts and file necessary tax returns. Missing deadlines can result in penalties.

· Keep Accurate Records

Transparency is critical. Maintain detailed records of all transactions, communications, and decisions. Beneficiaries have the right to request an accounting.

Common Mistakes Trustees Should Avoid

Even well-intentioned trustees can make errors. Here are frequent pitfalls:

- Mixing personal and trust funds (this can lead to legal trouble).
- Failing to communicate with beneficiaries, which creates mistrust.
- Ignoring deadlines for tax filings or distributions, risking penalties.
- Making investment decisions without professional guidance, which can breach fiduciary duty.

Avoiding these mistakes starts with understanding your obligations and seeking help when needed.

When to Seek Professional Guidance

Trust administration can be complex, especially when real estate, business interests, or multiple beneficiaries are involved. An experienced trust administration attorney can help you interpret trust terms correctly, handle tax filings and legal notices, manage assets and maintain necessary records, and prevent disputes among beneficiaries.

Ready to Get Help?

If you are serving as a trustee and want peace of mind, we are here to guide you through every step. Schedule an appointment today to discuss your trust administration duties and avoid costly mistakes.