I am a beneficiary of a trust
As a beneficiary of a trust, you have been left assets in a Will that must be held in trust for a designated period of time – for example, until you reach a certain age.
What does a trustee do?
A trustee appointed under a Will is responsible for carrying out the terms of the trust.
The trustee’s role depends on the terms and assets of the trust, which can include:
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managing property
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investing funds
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taking care of the paperwork and legal matters
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advancing money for the beneficiaries (for example, for school fees).
If there are young children involved, the trustee’s role carries on until they reach a certain age, or until all funds have been paid out.
What is the role of NSW Trustee & Guardian as a trustee?
Sometimes a Will provides for several beneficiaries with differing needs.
It’s our job to:
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make sure everyone’s interests are managed
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ensure that the terms of the Will (or any deed, or trusts issued by a court order) are complied with
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work out an appropriate strategy for managing the assets and investments
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take final responsibility for managing assets and investments
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act prudently and in the best interests of all beneficiaries.
If appropriate, we will ask you about your needs and consider any specific requests (as permitted in the Will).