How will the Trusts Bill Act change my role as a trustee?

Up until now, a trustee’s job description has been clear as mud with many families getting into strife unaware of their trustee’s responsibilities. If the new bill comes into place, a trustee’s role will be clearly outlined, and include:

  • Knowing the terms of the trust
  • Acting according to the terms of the trust
  • Acting honestly and in good faith
  • Acting for the benefit of the beneficiaries or the permitted purpose of the trust
  • Exercising trustee powers for a proper purpose.

Read more:

What changes in the Act will affect my business?

I have a family trust, what do I need to do?

Is a family trust right for me?

What are my responsibilities as a trustee?

Published winter 2018.

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