Trustees Responsibilities Explained
UK Trust Management Guide
What Does a Trustee Do?
A trustee is responsible for managing trust assets and ensuring the trust operates according to its legal framework.
​
Trustees have a fiduciary duty to act in the best interests of the beneficiaries.
Key Responsibilities of Trustees
Trustees must:
• manage trust investments responsibly
• follow the terms of the trust deed
• maintain financial records
• treat beneficiaries fairly
• avoid conflicts of interest
​
Trustees should also hold regular trustee meetings to review the administration of the trust.
Importance of Regular Trust Reviews
Trusts should be reviewed regularly to ensure they continue to meet their intended purpose.
​
Regular trustee meetings allow trustees to:
• review investments
• discuss beneficiary needs
• ensure compliance with regulations
• document decisions
Important Note
Wills, Tax & Trusts Ltd believes that all aspects of trusts should be discussed thoroughly before proceeding. Establishing a trust is an important decision and may require several meetings to ensure that all considerations are properly addressed.
​
It is also very important that trusts receive regular administrative reviews and that trustees hold regular meetings to ensure the trust continues to operate effectively and in accordance with its intended purpose.