A trustee has control over the trust assets, with two key responsibilities: managing and distributing those assets. In carrying out these duties, trustees have a fiduciary duty to act in the best interests of others.
Here is a list of several other responsibilities:
- Ensure compliance with the trust instrument (trust deed),
- Adhere to all statutory requirements,
- Safeguard trust assets,
- Account to the Master of the High Court and beneficiaries,
- Oversee administration, arrange trustee meetings, and keep accurate minutes, records, and registers.