Trustee roles and duties
There are 3 different types of trustees – responsible trustees, custodian trustees, and advisory trustees. Each have their own responsibilities and duties within the trust.
General duties for trustees include:
ensuring finances are well managed
researching potential industries
developing a strategic plan
writing reports
consulting and communicating with owners
conflict resolution and mediation.
Trustees are appointed for life or until they resign, unless the trust order states otherwise.
