This book is only available in PDF format

Author: Vicki Ammundsen
Published: 15 August 2024
Pages: 25

Introduction

Corporate trustees are a common feature of modern trusts. However, this approach is not without risks both to the trust and to the corporate trustee’s directors. This paper will consider corporate trustees from the perspective of the trusts to which the trustee is appointed, the directors, the shareholders and the trust’s beneficiaries. The paper will also consider corporate trustees from the perspective of third parties including banks.

This paper, which should be read in conjunction with the webinar delivered on 15 August 2024 (contact us to order at [email protected]), considers wider matters relating to corporate trustees including:

• assessing whether or not multiple appointments are appropriate;
• an exploration of appropriate constitutions for corporate trustees;
• how to draft suitable trustee, director and shareholder resolutions;
• whether or how a corporate trustee can charge for trustee services; and
• a consideration of trustee decision-making in the context of corporate trustees.

Before considering the role of the corporate trustee, it is important to consider wider aspects of the role and to reflect on what trustee services comprise, the duties owed by a trustee and wider considerations regarding trust administration.

Content outline

• Corporate trustees
• Multiple appointments
• Special purpose corporate trustees
• Liability considerations
• The trust’s beneficiaries and corporate trustees
• Exercise of discretion
• Active governance
• Trustee fees
• Decision making by corporate trustees