Number nine on our list is the fiduciary duty of a trustee. This duty is absolute and imposes a number of important obligations on the trustee. These include duties to act in good faith, not to profit personally from the role, to avoid conflicts of interest, to account to the beneficiaries and a number of others. In addition the Trustee Act 2000 imposes further duties regarding investment.
This will be one of the topics reviewed in more depth during the forthcoming Trustee Training Events at Rhug estate and Ragley Hall, organised in conjunction with the CLA. For more details:
STOP STOP PRESS
We have now organised a second day at Ragley Hall to take place on 22 April 2015 – please use the contact form or the link above to reserve a place. Places seem likely to go quickly in view of the demand we have experienced so far.
The Trustee Training Day at Ragley Hall now has only one or two places left. There are still places for the day at Rhug Estate on 17 March. I am keeping a reserve list for the Ragley event in case of any drop-outs, or with a view to arranging a further day if there is enough interest.
This is the ninth of 10 brief ‘Need to Know’ notes for trustees and their professional advisers.