Trustee Responsibilities

There are a few important things to know about being a Trustee.

There are a number of obligatory duties imposed upon a person who acts as a trustee.  If a trustee fails to carry out their duties they will be in breach of trust.

A trustee’s main duties are to:

  • find out what property and assets belong in the trust
  • take control of those properties and assets
  • thereafter ensure its preservation

Services also offered in

As a trustee, you must exercise reasonable care and skill when performing your duties.  You can appoint someone else to assist you or act as a custodian, for example, you can engage an independent financial adviser to invest and grow money held in the trust.

A trustee may not profit from their trust.  Unless the terms of the trust allow it, a trustee is not permitted to obtain any indirect or incidental profit or gain by reason of the fact that they are a trustee.

The existence of the rule is an attempt to prevent a trustee from placing themselves in a position where their personal interest and their duty may come into conflict.  To ensure your actions stand up to scrutiny it is important to keep good records of all transactions and decisions made.

Trusts and Probate Enquiry

Fill out the form and a member of our team will get in touch to discuss how we can help.

Mullis & Peake will use the information you provide in this form in accordance with our privacy policy. With your consent, we may from time to time send you general updates by email or post that we think you will find of interest.This includes notification of upcoming event and updates or alerts containing relevant legal news. You can update your preferences at any time and will be able to easily unsubscribe from anything that you do not wish to receive.

Call us now for trusts support

Our latest insights

Charity & Fundraising, Mullis & Peake
London Legal Walk 2022
Jun 29, 2022
Legal, Residential Property, Lease Extension, Leasehold Enfranchisement
Update on leasehold reform and ground rents
Jun 29, 2022
Legal, Residential Property
Buying your first home – what to expect
Jun 28, 2022
Movers & Shakers, Mullis & Peake
Above and Beyond June 2022
Jun 28, 2022
Movers & Shakers, Mullis & Peake
Brentwood Strawberry Fayre
Jun 22, 2022
Charity & Fundraising, Mullis & Peake
Cake Sale for the Charity of the Year
Jun 22, 2022
Movers & Shakers, Mullis & Peake, Uncategorized
Langtons Summer Concert
Jun 22, 2022
Family Mediation, Family Mediation, Legal, Family Mediation
Should children be involved in the mediation process?
Jun 22, 2022
Personal Injury, Personal, Personal Injury
When cosmetic procedures go wrong – can you make a claim?
Jun 15, 2022
Company & Commercial, Legal, Corporate and Commercial Law
Navigating the gig economy and the choppy channel across to franchising
Jun 9, 2022
Meet OUR people

Wills and Probate Team

Member

Manzurul Islam

Manzurul is a ​Member and heads our Wills and Probate team.

Contact Manzurul
Chairman

Martyn Trenerry

Martyn ​is our Chairman and the firms' Compliance Officer for Legal Practice

Contact Martyn
Associate

Trudi Bates

Trudi is an Associate at Mullis & Peake, with extensive experience in the Wills and Probate field.

Contact Trudi