How do I administer a trust with one account outside it? | NC

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Q: How do I administer a parent's trust when most assets are in the trust but one retirement account is outside of it? A: Usually, the trustee handles only the assets that were actually titled in the trust. The retirement account is often separate, and the account custodian will usually follow the latest valid beneficiary designation on file. If the beneficiary is a person, that account may pass…