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Trustee Training

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  1. LIVE Q&A Call Recordings
  2. Trustee Training Introduction
  3. The Trustee
  4. Ownership
  5. Trustee | Ownership Do's and Don'ts
  6. Trustee Compensation
  7. Trustee's Reimbursement of Expenses
  8. Trustee Powers and Delegation
  9. Trustee Powers and Delegations
  10. Leasing, Law suits, Contracts
  11. Duties to Beneficiaries and Office
  12. Accounting
  13. Trustee Management - Steps to Securing Property
  14. Trustee Management - Care and Custody
  15. Trustee Management - Conversion
  16. Management of Funds - Distribution
  17. Management of Funds - Investments
  18. Trustee Liabilities - to Strangers
  19. Trustee Liabilities - to Beneficiaries
  20. Self Assessment
  1. Trustee Training
  2. Ownership
Lesson 4 of 20
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Ownership

This section highlights the trustee’s role as the legal owner of trust property, distinct from the beneficiary, who holds only equitable rights to enforce the trust provisions. Unlike an agent, the trustee has full authority over the property, including legal actions, and is accountable solely to the beneficiary. This separation ensures clear management responsibilities and protections for both parties, with limited exceptions like foreclosure cases.

00:00 Introduction to Ownership and Trustees

00:16 Understanding the Two Estates in a Trust

00:44 Trustee’s Estate and Beneficiary’s Rights

01:17 Legal and Equitable Rights in Trusts

01:53 Trustee’s Absolute Ownership

02:29 Distinguishing Trustee from Agent

03:19 Trustee’s Legal Actions and Beneficiary’s Protection

03:55 Foreclosure Exception in Trusts