chapter  11
26 Pages

Duties of Trustees

Having accepted the trusteeship, a trustee must observe the duties placed upon him. The duties are onerous. As Lord Hardwicke once said: 1 ‘A trust is an offi ce necessary in the concerns between man and man and, if faithfully discharged, is attended with no small degree of trouble and anxiety . . . It is an act of great kindness in anyone to accept it.’ As Parker and Mellows put it: 2 ‘The interest of the benefi ciaries will only be adequately protected if the trustees are scrupulously honest; prepared to give adequate time to the administration of the trust; have enough common sense and business acumen to do well with the trust property; and are able to treat fairly benefi ciaries with possibly confl icting interests, such as tenant for life and remainderman.’