Wednesday, March 22, 2017

The Key Responsibilities of a Trustee

As co-CEO and trustee of Otto Bremer Trust, Daniel Reardon is responsible for making sure the organization works toward the goals put in place by Otto Bremer, who founded the trust in 1944. Daniel Reardon is tasked with ensuring the organization’s investments and grant making are in keeping with both the trust instrument and all relevant legal requirements.

Trustees are expected to assume a number of responsibilities, including investment of assets with the aim of securing them for both existing and potential beneficiaries. Further, they are expected to maintain communication with fellow trustees and beneficiaries, particularly in regards to financial matters and the direction the trust will take.

Trustees also need to develop an understanding of the unique terms put in place by the trust, which often define the ethical commitments of the trust and its duty to beneficiaries. Additionally, these terms must be followed in accordance with state and federal law, meaning trustees must also be familiar with legal matters and how they apply to the trust.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

The Otto Bremer Trust’s Twin Cities Focus

With responsibilities including the oversight of investments and management of the trust as per its trust instrument, Daniel Reardon serv...