Executor's Duty: Informing Surviving Spouse of Decision Rights
What Your Family and Executor Will Need to Know
What You Should Do Immediately after Your Appointment as Executor of an Estate

10 Common Pitfalls for Estate and Trust Administrators to Avoid

Step 10 of 10
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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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