Statutory Wills and Gifts

What duties do I have?

A trustee is under legal obligation to act according to the terms of the trust. Your duties include:

• Ensuring you understand the terms of the deed

• Acting in the best interest of the trust and its beneficiaries

• Fulfilling your fiduciary and statutory responsibilities

• Keeping beneficiaries updated with information about the trust

• Staying up to date with potential changes in laws or tax rules

Unless stated in the trust, you cannot pay yourself any expenses from the trust, including legal assistance.

Why is it recommended to seek legal assistance?

A trustee can be held personally liable for any mistakes made, as well as not acting in the best interests of the beneficiaries. This can be a stressful process. Speak to us today so we can help.