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You are here: Experts > Money > Wills/Estate Planning > Trusts & Estates Law > trustee duties/expenditures/compensation
Trusts & Estates Law - trustee duties/expenditures/compensation
Expert: Keith Northington - 11/5/2009
Question
Can you advise as to exact responsibilities of the trustee and personal representative of will probated in Montgomery Co., Maryland? I was named BOTH in my sister's will - without bond. She recently passed away and the will stipulates a trust to be set up for benefit of her minor child. It is not clear if I will be awarded custody of the child as his father is still alive. SInce this is not a trust that is probated and then the assets are distributed (end of story), I am concerned about the level of legal oversight, responsibilities and scrutiny I will be subject to. I loved my sister and want to do as she asks but honestly I am struggling financially and cannot take on a responsibility that will cause personal financial expenses my own family simply cannot afford to handle.
Answer
How much money will be in the trust? There will be no personal expenses to you--any expenses will come out of the trust. It is a very simple matter to be custodian of an account and would take up very little of your time. If you don't want to do it, talk to a local bank that has a trust department and they can do it for you.
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