Some of the requirements include but not limited to:
* Giving written notification to heirs and beneficiaries according to Probate Code
* Obtaining Tax Identification Number
* Inventorying assets
* Paying creditors
* Preparing and filing tax assessment exclusion forms (if applicable)
* Preparing accounting
Above mentioned are some of the requirements that a trustee must do. A trustee’s responsibilities may be overwhelming when trying to do them alone. Furthermore, if not done correctly, you may be found liable, which can lead to costly disputes and unnecessary expense.