so when we talk trust Administration

we’re talking about an irrevocable trust

and when we have an irrevocable trust

the trustee has very important duties

they’re managing the trust both in terms

of their managing the Investments and

they’re also handling the income tax

reporting and finally they’re

controlling distributions and their job

is first to make sure that the

objectives of the grantor the person

that created the trust are being

achieved and then they have a fiduciary

duty to all the beneficiaries they must

manage the trust in its investments in

the best interests of the beneficiaries

and then what you’ll see is the law will

require a trustee to keep the

beneficiaries informed of what’s

happening with the trust typically once

a year they have to file a detailed

accounting they have to deliver it to

each beneficiary it shows them

everything that happened in the trust

during that year

um and once a year they have to get with

an accountant and make sure that tax

returns are filed for the trust

ultimately when we reach a point where

the trust is ready to terminate they

have to pay all the debts and then make

all the final distributions exactly how

the trust prescribes