Legal Articles

Trust Administration: Expenses, Trustee Reimbursement, Accounting, Reports

A principal administrative responsibility of a trustee is to keep a detailed accounting of all trust assets. See Section 456.8-810. To that end, unless the trust instrument provides otherwise, a trustee is required to deliver to beneficiaries/permissible distributees annually and at the termination of the trust a “report of the trust property, liabilities, receipts, and disbursements, including…

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