Duties of Trustees

Trustees owe duties of honesty, integrity and good faith to the beneficiaries of the trust and must be actively involved in any decision making.

What are the duties of a Trustee?

The trust deed (or will) will usually include specific instructions about how to manage the trust but there are also some general duties that apply to all trustees. These are:

  • To act in accordance with the purposes and terms of the trust
    This, of course, means familiarising yourself with the terms of the trust and making sure you understand them.
  • To keep records and provide information
    Trustees must keep clear and accurate accounts showing their dealings with trust assets. They must also provide information to beneficiaries if they ask for it.
  • To act carefully and distribute assets correctly
    Trustees owe a duty of care to protect the trust property for the beneficiaries of the trust.
  • To take advice
    The Trustees should take advice from properly qualified persons with regard to matters on which they are not themselves expert. This includes advice on the investment of trust funds as appropriate.

This list isn’t exhaustive and we recommend you seek professional advice.

We can help…
There may be times when you need to seek professional help in exercising your powers and making decisions. Managing a trust can be complicated. Every trustee can and should seek professional advice to make sure they are acting in the best interests of the trust and its beneficiaries.

Our specialist team can advise you on every aspect of your role or help you to administer your trust correctly.

Get in Touch

Cairn Trust Management
Regent House,
113 West Regent Street,
Glasgow, G2 2RU.

 0141 221 7948