What are main trustee duties?

A trustee has the following main duties: Duty of care – a trustee must exercise reasonable care and skill when carrying out their role. This includes, for example, a duty to work with any fellow trustees and to actively consider and select appropriate investments that are in the best interests of the beneficiaries – taking advice as appropriate. A professional trustee (e.g., an accountant or lawyer) is held to a higher standard of care than a “lay” (i.e., non-professional) trustee. To follow the terms of the trust and take control of trust assets – a trustee must be clear on the terms of the trust, comply with its terms and secure all trust assets. To act impartially between beneficiaries –a trustee must treat the beneficiaries fairly and in accordance with the settlor’s wishes as set out in the trust deed. To provide information and accounting –the trustees must attend annual trustee meetings and keep a record of the discussion and decisions made in the meeting. The trustees may also be required to keep clear and up to date accounts for the trust and provide beneficiaries with core information about the trust. To avoid conflicts of interest – a trustee should ensure that their personal interests do not conflict with their role as trustee to act in the best interests of the beneficiaries of the trust. Not to make an unauthorised profit – the trust instrument may however permit a trustee to charge for their services.

What are main trustee duties?

A trustee has the following main duties: Duty of care – a trustee must exercise reasonable care and skill when carrying out their role. This includes, for example, a duty to work with any fellow trustees and to actively consider and select appropriate investments that are in the best interests of the beneficiaries – taking advice as appropriate. A professional trustee (e.g., an accountant or lawyer) is held to a higher standard of care than a “lay” (i.e., non-professional) trustee. To follow the terms of the trust and take control of trust assets – a trustee must be clear on the terms of the trust, comply with its terms and secure all trust assets. To act impartially between beneficiaries – a trustee must not favour one beneficiary over another and competing interests should be balanced. For instance, where there is a life tenant with an interest in the income of the trust and other beneficiaries with an interest in the capital - neither should benefit to the detriment of the other. To provide information and accounting – a trustee must keep clear and up to date accounts for the trust and provide beneficiaries with core information about the trust. To avoid conflicts of interest – a trustee should ensure that their personal interests do not conflict with their role as trustee to act in the best interests of the beneficiaries of the trust. Not to make an unauthorised profit – the trust instrument may however permit a trustee to charge for their services.

Professional Trustee Services

Acting as a trustee means taking on a significant legal responsibility. A trustee is a “fiduciary” and must act in the best interests of the beneficiaries, must not have a conflict of interest with the beneficiaries and must not make any unauthorised profit from their position.

We regularly act as trustees for our clients on a variety of different trusts. We act as trustees through a trust company. Where we act as a trustee, you can be assured of a professional and experienced approach to carrying out all the necessary responsibilities of a trustee in line with any trust agreement. Where necessary, we can also act as Court of Protection deputy.

Trustee powers

The powers of trustees are provided by law and will also normally be added to or varied by the trust instrument. Typically, they may have the following powers:

Power to invest – a trustee has authority to invest the trust funds having regard to the investments' suitability and the likelihood it will benefit the trust.
Power of delegation – a trustee can instruct professional advisers where necessary and appropriate.
Power of insurance – a trustee has the power to insure any trust asset against damage.
Power of advancement – a trustee has discretion to advance the capital of the trust to a beneficiary.
To be paid for their work – where they are a professional trustee, such as a solicitor or accountant.

Meet the team

View all

Get in touch

We are lawyers you can count on to deliver. If you’d like to find out more about our services and whether we can help you, click the button below and get in touch.

Our team will be responsive and accessible – a valued partner ready to assist you every step of the way.

Latest news & insights

View All

Article

Ashfords Wealth Brief: Global wealth management in a changing world

News

Ashfords appoints new trusts and estates partner in London

News

Ashfords' private wealth and family teams recognised in 2025 eprivateclient rankings

Sign up for legal insights

We produce a range of insights and publications to help keep our clients up-to-date with legal and sector developments.