PLAIN-LANGUAGE ANALYSIS
What this guide is designed to clarify.
Trustees should be able to explain what they received, what they spent, what decisions they made, and how those decisions relate to the trust document.
Good records support accurate accountings and clearer beneficiary communication. They do not replace legal, tax, investment, or accounting advice, and the level of detail depends on the trust and applicable law.
Records to organize
01
The signed trust and documents confirming current authority
02
Property inventories, statements, and valuation records
03
Receipts, invoices, deposits, and distribution records
04
Written communications and decision notes
05
Tax filings and reports prepared by qualified professionals