What does a Trust Administrator do?
Trust administrators take care of trust assets for the benefit of the designated and stated beneficiaries. They may be either an individual or an organization, including a bank or a specialist trust company. They assess a trust’s assets and value them, enabling a determination of the trust’s total worth, and deduct any relevant liabilities from the total worth, which includes all costs and expenses of the trust. They keep a transparent accounting of critical factors, including funds, taxes, paid, and all correspondence, which they make available to all beneficiaries in an on-demand basis.
Trust administrators file annual income tax returns and maintain the value of the trust and its assets. They record spending and costs while maintaining its worth over time, which requires them to track and audit any changes within trusts. They stay in communication with beneficiaries, provide them with detailed information about the state of the trust, and ensure they strive to follow the trust’s specific duties and safeguard it for the beneficiaries. Trust administrators need a bachelor's degree in banking, finance, economics, or related fields.
Trust Administrator Salaries
Average Base Pay
Trust Administrator Career Path
Learn how to become a Trust Administrator, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
Trust Administrator Insights
“Great people to work with and partners are nice.”
BNY Mellon“Everything overworked and underpaid.”
FIS“Work life balance is terrible and is understaffed.”
Virtus Partners“Not much chance to progress in the carreer”
läpple group“nice people to work with”
RBC“Good work life balance”
CBRE“Stress level way too high.”
Vistra“Salaries not competitive.”
Frequently asked questions about the role and responsibilities of a Trust Administrator
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