Course Materials

Sample Documents

Accounting Letter to Beneficiaries
Affidavit of Acceptance of Duties
Affidavit of Death of Joint Owner
Affidavit of Death of Trustee
Beneficiary Receipt of Distribution

Links to State Probate Laws

Links to State Probate Laws

Checklist

Checklist

Course Notes

Course Notes

Course Outline

Course Outline

Trust Administration

$249

You’ve been named trustee. Now what? Taking over a trust after someone dies can come with a long list of responsibilities—and plenty of questions. This course helps you understand the process, know what to expect, and feel more prepared for the job ahead.

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Course Overview

Course Details

Course Outline

4 hours 54 minutes of content

Printable Course Materials

Printable course materials including course outline, course notes, trustee checklist, sample documents, and more!

What You’ll Learn

  • How to decide whether to take the job
  • What a trust is and how it works
  • Who you need on your team
  • How to get and stay organized
  • What to do from start to finish
  • How to manage different assets
  • Secrets to being successful
  • Things that can get you in trouble
  • How to prepare your trust accounting
  • Things to know about taxes
  • How to distribute property
  • Much more!

Chapters Overview

Chapter 1

Getting Started

1 Lesson

We'll walk through how this trust administration course works, what you'll be learning, and a few important things to keep in mind before you get started. This is your roadmap for what's ahead.

Chapter 2

Before You Commit

9 Lessons

Understand what it means to serve as a trustee and how to evaluate whether you should accept the role. We'll cover trustee duties, potential risks, compensation, and other important factors to help you make an informed choice.

Chapter 3

The Rules of the Road

6 Lessons

Understand what it means to act as a fiduciary and how to carry out your duties as a trustee. This chapter covers trustee responsibilities, liability risks, and best practices for managing trust assets and beneficiary relationships.

Chapter 4

You’re Not Alone

8 Lessons

Being a trustee doesn't mean doing everything yourself. We'll show you how to assemble the right team, when to bring in experts, and how to choose and manage them.

Chapter 5

Setting Yourself Up to Succeed

1 Lesson

Understand how to organize trust documents, records, and financial information as a trustee. We'll cover filing systems, recordkeeping best practices, and how to stay prepared for accountings, taxes, and beneficiary questions.

Chapter 6

Administering the Trust

27 Lessons

There's a lot to do—but this is where you start. Learn the essential steps of trust administration with a detailed trustee checklist. We'll cover how to gather documents, identify and protect assets, notify beneficiaries, and handle key early responsibilities.

Chapter 7

Taking Care of the Money

1 Lesson

Understand the rules for investing trust assets and your responsibilities as a fiduciary. We'll cover diversification, risk tolerance, portfolio strategy, and how to work with an investment advisor to manage trust funds.

Chapter 8

Keeping Everyone Informed

1 Lesson

Providing an accounting is one of your key duties as a trustee. This chapter shows you how to track income, expenses, and assets—and how to present it all in a clear, organized way for the beneficiaries.

Chapter 9

Understanding Taxes

3 Lessons

Learn about trust taxes, estate taxes, and income tax responsibilities during trust administration. We'll cover what taxes a trustee may need to file, how trust income is taxed, and what beneficiaries may encounter.

Chapter 10

When the Trust Owns a Business

1 Lesson

Learn what happens when a business is involved in trust administration and how ownership is handled after a death. We'll cover common business types—like sole proprietorships, partnerships, LLCs, and corporations—and what a trustee or executor can expect.

Chapter 11

Completing the Administration

8 Lessons

Understand how to distribute trust property, including personal property, real estate, and financial assets. We'll cover trustee responsibilities, beneficiary considerations, and best practices for making fair and accurate distributions.

Chapter 12

Closing Things Out

1 Lesson

Learn how to wrap up trust administration and formally terminate the trust. We'll walk through the final steps, including final tax filings, closing trust accounts, and making final distributions to beneficiaries.

Chapter 13

Congratulations!

1 Lesson

Wrap up the course with a look back at everything you've learned about trust administration—from getting started to making final distributions. Now you have the knowledge and tools you need to move forward, whether you handle it yourself or work alongside an attorney.

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Trust Administration

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Estate Planning

▧Course Materials☷Course Outline

Chapter 1: How to Plan

6 Lessons
Expand All Lessons  ⌄
Lesson 1
Trust Administration: A Final Word
Lesson 1
Terminating the Trust
Lesson 8
Getting Receipts From Beneficiaries
Lesson 7
Keeping Some Money in Reserve
Lesson 6
How to Distribute Specific Types of Property
Lesson 5
Disabled Beneficiaries
Lesson 4
Minor Beneficiaries
Lesson 3
Everything Else
Lesson 2
Personal Property
Lesson 1
Distributing Property
Lesson 1
A Word About Businesses
Lesson 3
Taxes Beneficiaries May Pay After Receiving Their Inheritance
Lesson 2
Taxes You May Pay as Trustee
Lesson 1
Paying Taxes
Lesson 1
Providing Accountings
Lesson 1
Investing Trust Assets
Lesson 20
Wrap Up
Lesson 19
Pay Debts and Creditor Claims
Lesson 18.7
A Few Other Things to Know
Lesson 18.6
Pay-on-Death Assets
Lesson 18.5
Roth IRAs
Lesson 18.4
Tax Deferred Retirement Plans
Lesson 18.3
Pensions
Lesson 18.2
Annuities
Lesson 18.1
Life Insurance
Lesson 18
Collect Payables: Beneficiary & Pay-on-Death Proceeds
Lesson 17
Use a Probate Short-Cut (If the Estate Qualifies)
Lesson 16
Open Probate (If Necessary)
Lesson 15
Determine What Happens to Property Outside the Trust
Lesson 14
Get Property Titled in Your Name as Trustee
Lesson 13
Send Notifications of Death
Lesson 12
Notify the Beneficiaries
Lesson 11
Let the IRS Know You’re in Charge
Lesson 10
Establish a Bank Account
Lesson 9
Get a Taxpayer ID Number for the Trust
Lesson 8
Secure and Protect the Trust Property
Lesson 7
Value the Assets
Lesson 6
Find and Inventory the Trust Property
Lesson 5
Register the Trust (Where Required)
Lesson 4
Study the Trust Document
Lesson 3
Find the Documents That Dispose Property
Lesson 2
Order Copies of the Death Certificate
Lesson 1
Getting to Work: A Checklist
Lesson 1
Getting Organized
Lesson 8
Conclusion
Lesson 7
Real Property (Real Estate) Professionals
Lesson 6
Appraiser
Lesson 5
Estate Organizer/Liquidator
Lesson 4
Investment Advisor
Lesson 3
Tax Professional
Lesson 2
Attorney
Lesson 1
Getting Help: Assembling Your Team
Lesson 6
Errors and Omissions Insurance
Lesson 5
Trustee Quicksand: Common Traps and How to Avoid Them
Lesson 4
The Secret to Success: Effectively Working with Beneficiaries
Lesson 3
What Can Happen if You Go Astray?
Lesson 2
Your Number One Rule: The Fiduciary Duty
Lesson 1
Getting Your Head in the Game: Thinking Like a Trustee
Lesson 9
If You Want to Resign
Lesson 8
What to Do When You Decide to Accept… or Decline
Lesson 7
Can You Be Held Personally Liable?
Lesson 6
Will You Be Paid for Your Time?
Lesson 5
Six Things to Consider Before Saying Yes
Lesson 4
Other Things You Might End Up Doing
Lesson 3
What Does a Trustee Do?
Lesson 2
What Is a Trust and How Does It Work?
Lesson 1
Sizing Things Up: Should You Take the Job?
Lesson 1
Before We Dive In
◉Great job! Keep going.You’ve completed 3 of 6 lessons in this chapter.Continue to Lesson 4