What are the duties of a Trustee?

A trustee is an individual or corporation which administers the trust for the benefit of the beneficiary, in accordance with the terms of the trust.

Some of the duties of a trustee are:

  • knowing the trust and the assets subject to it;
  • obeying the terms of the trust;
  • acting impartially between the beneficiaries;
  • exercising reasonable care;
  • investing the trust fund as directed by the trust or as the law provides;
  • seeing that trust funds are paid to the right persons;
  • acting jointly when there is more than one trustee;
  • providing prompt accounts; and
  • acting gratuitously unless the trust instrument or the law says otherwise.

A trustee must not:

  • delegate his or her duties or powers; or
  • profit in any way from the trust property.

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