Trustee vs. Executor A trustee administers and manages a trust fund. An executor manages and administers the estate of someone who has died and left assets to heirs through a will. An individual can name one person for each role or could appoint one to perform both roles. ...
An executor only comes into play once someone has passed away. They are in charge of handling the estate and the probate process. An executor is assigned through a testator's will. They usually stop working with the beneficiaries after all the assets have been successfully distributed. Final Th...
Duty of care means that the fiduciary is required to use due diligence to consider all available options before making decisions that will impact the beneficiary. The fiduciary should take "reasonable prudence" when making decisions, using critical thinking and consulting independent experts as required...
The trustee plays a crucial role in the management and distribution of a trust. Find out what the trustee's responsibilities are and how to choose one.
How the estate is handled will also depend on its size and nature. Depending on the circumstances, the Executor of the estate can make interim distributions. It is important to keep in mind that Estate Trustees are personally liable. This means if you pay out too much on an interim basis ...
Negotiate with the bank regarding the fees it will charge to be trustee. The fee a bank charges to serve as trustee is normally a percentage of the value of the assets in the trust. A bank generally charges 0.75 percent to 3 percent of the total asset value. A bank that charges high...
ITWTB is a private trustee association which holds or manages and invests assets for the benefit of another. We help members wealth succession, management & distribution.