Public Trustee - Duties of a Trustee

What is a Will? I don't have a Will What do I include in my Will? I want to change my Will What is an Executor? What is the difference between an Executor and an Administrator? What if I am appointed as an Executor or an Administrator? What if I nominated The Public Trustee as my Executor? How long does it take to make my Will? What do I need to bring along? Fees & Charges

What is a Trust? Why set up a Trust? Duties of a Trustee How are Trustees appointed? What are a Trustee's powers? Why would I choose The Public Trustee? Fees & Charges

What is a Financial Administrator? How is a Financial Administrator appointed? Duties of a Financial Administrator What's the difference between Financial Administration and an Enduring Power of Attorney? Fees & Charges

What is an Enduring Power of Attorney? Who can make an Enduring Power of Attorney? Who should I choose as my Attorney? What would happen if I nominated The Public Trustee? When does an Enduring Power of Attorney begin to operate? Why make one now? Fees & Charges

Our commitment to all Tasmanians Why should I choose The Public Trustee? Publications History Corporate Governance

What is a Trust?Why set up a Trust?Duties of a Trustee How are Trustees appointed?What are a Trustee's powers?Why would I choose The Public Trustee?Fees & Charges

Duties of a Trustee

A Trustee must:

know the Trust and the assets subject to it
obey the terms of the Trust
act impartially between the Beneficiaries
exercise reasonable care
invest the Trust fund as directed by the instrument setting up the Trust or as the law provides
see that Trust funds are paid to the right persons
act jointly when there is more than one Trustee
provide prompt accounts
act gratuitously unless the Trust instrument or the law otherwise provides

A Trustee must not:

delegate his or her duties or powers
traffic with, or otherwise profit by, the Trust property.

Make an appointment

Links | Glossary of Terms | You are required to read the Disclaimer

The information on this website does not constitute advice by the Public Trustee and if you require advice you should contact the Public Trustee.