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.
Advisory trustees are often representatives of the owners, responsible for bringing the views of the owners to the responsible trustees. Or they might be someone who has a specific skillset brought in to provide advice to responsible trustees.
- bring the views of the owners to the trust's board
- take part in decision-making, ensuring owners' views are represented
- are not responsible for any of the trust's assets, though they can be involved in discussions and decision-making about the assets.
Advisory trustees do not have the same level of risk or legal responsibility as responsible or custodian trustees.
Acting as an advisory trustee can be a way of learning the job before becoming a responsible trustee, though there's no requirement to become a responsible trustee.