FAQ - Trustee Services

A trust is a legal relationship set up to look after assets for a person or organisation. These assets can include property, shares and money. A trustee manages the trust’s assets. They are responsible for keeping the assets safe. The people or organisation that benefit from the trust are called beneficiaries.
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People usually set up trusts to manage assets to provide long-term benefits for their loved ones or for a charity.
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This depends on your situation, wishes and goals. Different types of trusts are used for different reasons. You can use a trust to protect a young child’s inheritance, or to provide for the future of a vulnerable family member, such as a person with disability.
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A trustee is responsible for managing the assets in a trust. They must administer the trust in line with the rules in the trust instrument and the law, and they must always have the best interests of the beneficiaries in mind. A trust instrument can be a person’s will, a trust deed or a court order.
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Yes. Sometimes a trustee can no longer do the job of a trustee. This could be because of age, illness or moving interstate or overseas. It might also be that a trustee doesn’t want to be a trustee anymore, or has argued or disagreed with the beneficiaries. In these cases, it may be best that a new trustee takes over.
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