Hi

I had an interesting conversation with a woman the other day.  She had just finished her trust and had named her daughter as her personal representative.  The trouble was that the daughter felt so responsible that she was beginning to take control.

I was able to explain that a personal representative or successor trustee does not take over until the current trustee dies. A personal representative does not have the right to influence investments or gifts until they take over after the death or proved incompetence of the original trust owner.  Even then the successor can only distribute the estate as instructed by the trust. 

After the death of the trustor, the personal representative or successor trustee should:

1. Locate and protect the trust assets
2. Probate any property not held in the trust that needs a clear title
3. Determine to whom money is owed and pay off these debts
4. Put enough aside for the income, estate and inheritance tax liabilities
   
5. Distribute the remaining assets as directed by the trust
6. File a final tax return as required by law