Eligibility requirements and duties for trustees of trusts
Trusts Bill 2025
Private Member's BillAssembly
Introduced by: Deborah Frecklington (LNP)
Links to official parliament websites
Effects of this bill
If this bill passes, it means that:
Children and insolvent people cannot be appointed as trustees.
Courts can ban unfit people from acting as trustees for any trust.
Trustees must act honestly and in good faith.
Trustees must use care, diligence and skill when managing a trust.
Professional trustees must meet a higher standard of care.
Trustees must keep accurate records for at least three years after a trust ends.
Trustees can delegate investment powers to other people.
Administrators can appoint a new trustee if the last trustee has impaired capacity.