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.