Is you Trust ready for the new Trusts Act?

On 30 January 2021 the new Trusts Act (“the Act”) will come into force. The Act aims to simplify trust law and make it more accessible. The main changes include creating mandatory and default duties for trustees and provisions about providing information to beneficiaries. The purpose of these duties is to ensure beneficiaries can hold trustees to account. If you have a Family Trust, are a trustee or a beneficiary what do you need to know? The Trustees mandatory duties are: To know the terms of the trust. To act in accordance with the terms of the trust. To act
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