Duties of a Successor Trustee

Duties of a Successor Trustee

While some consider becoming a successor trustee a great honor, it is also a great fiduciary responsibility. As successor trustee, it is your duty to ensure that the trust estate is handled according to the trust document and the trustor’s wishes. When a loved one passes away, there are many tasks to be done and things to consider. Below is a list of some actions the successor trustee should consider.

Monitoring Inflation and Inflation Expectations (Phillips Curve)

Inflation

For the first time since the data collection began in 2002, there are more job openings in the US than there are people unemployed (see chart below). We are currently in the second-longest economic expansion in our history, and if it continues through July 2019, it will become the longest. This has led to a period of prolonged job creation, which has driven down the unemployment level below four percent.