How will the Act change my role as a trustee?

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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
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