The Trustee: A Guiding Hand

Unlock the secrets to effective trusteeship! This essential guide from Mike Preston Consultancy, "The Trustee: A Guiding Hand," illuminates the critical responsibilities trustees must master.

Discover how to be a steadfast guardian of trust assets by holding and managing property responsibly, ensuring assets align with the trust deed, and making sound investment decisions. Learn the importance of truly understanding and fulfilling the trust's charitable aims, always acting in the best interests of beneficiaries, and upholding the core purpose of the trust.

Navigate the complexities of acting with utmost good faith, which includes being impartial, avoiding conflicts of interest, and maintaining honesty and integrity while prioritizing beneficiaries' interests. Understand the necessity of prudent decision-making by exercising reasonable care and skill, seeking professional advice when needed, and keeping meticulous records.

Master accountability by keeping beneficiaries informed, being prepared to answer their questions, and acting with fairness and transparency. Finally, grasp how to navigate the intricate legal and regulatory landscapes, including understanding relevant laws, ensuring legal compliance (like tax obligations), and seeking legal counsel when necessary.

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