What You Should Know about Trusts Created during Lifetime and after Death
How to Collect a Decedent's Employee Benefits
How to Diversify Mutual Funds for a Trust

10 Common Pitfalls for Estate and Trust Administrators to Avoid

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Don't pay from the wrong pocket.

Money may always seem like money to you, but within a trust, it belongs to either principal or income. And although making a distinction between the two may seem silly when paying trust bills, you really must.

Because different people may be entitled to receive money and property from either income or principal, make payments (whether expenses or distributions) from the correct side of the account is crucial. More than on trustee has been sued because they paid all trustee fees from principal (or income), for example.

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