What are Trustee Duties?
A trustee is a person (or company) appointed to manage money or other assets that are held for the benefit of other individuals or groups of people.
Trustees must comply with the obligations imposed on them in the trust document but they must also comply with obligations (duties) contained in legislation.
If you’re appointed as a trustee or are thinking of asking someone to act as a trustee it is vital to understand what the duties of a trustee involve and the risks a trustee may face.
Trustees can be held personally responsible if they deliberately or negligently fail to comply with their duties and as a result beneficiaries of the trust lose out financially.
Even if trustees choose to instruct professionals to help them manage their trustee responsibilities, the trustees still need to understand their trustee obligations so they can know if the professionals they instruct are doing their job correctly.
Our Guide to Trustee Duties explains the legal obligations of trustees.
The guide has been specially written to help trustees understand the legal responsibilities involved in being a trustee.
What does this FREE guide contain?
» Clear, concise details of rules and obligations involved in acting as a trustee;
» Explanations of important rules about investment;
» Details of trustees powers i.e. what they are permitted to do.
Our Guide to Trustees Duties will help you:
» understand how the law affects the actions of a trustee
» recognise the different responsibilities of trustees
» avoid making mistakes in administering a trust
» understand beneficiaries rights
To download your free guide click here