Trustee Liability: What Every Trustee Needs To Know, 2nd Edition

Trustee Liability: What Every Trustee Needs to Know is a must-have for trustees, trust advisers and anyone involved with administering trusts.

This practical text provides guidance for trustees on matters they should consider before accepting appointment as a trustee, examines sources of trustee liability, and addresses options for limiting and mitigating liability.

Fully updated for the Trusts Act 2019, this second edition makes extensive use of case law and practical questions and answers to illustrate the concepts discussed.

Topics covered include:

• appointment as a trustee
• how trustee liability arises
• joint and several liability
• trustees’ liability for income tax and GST
• rights of indemnity and reimbursement
• liability for decisions of co-trustees
• liability for court costs
• mitigation of trustee liability through appropriate governance
• risks arising from inappropriate delegation
• the use of corporate trustees
• appropriate insurance options.

The text references relevant case law.

Who should buy this book:

This book will be an invaluable guide for anyone advising a trustee, anyone considering acting as a trustee or a trustee who wants to fully understand the obligations they have taken on.