If the potential trustee were asking me
the question, I would tell her not to touch this with a barge pole. Although
she may feel a moral obligation. She has responsibilities and could be
criticised if she does something wrong and all of this for no reward.
The duties of the trustee can be quite
simply summed up in the duty to act in the beneficiary's best interest, and to
keep accurate records.
Keeping accurate records is easy enough,
but acting in the beneficiary's best interest can cover a whole variety of
You will also consider what happens if
the trustee dies or gets fed up, or is simply incapable. I would also suggest
there are always two trustees acting jointly to provide a degree of check and
The problem with appointing
professional trustees such as solicitors or accountants is that they charge,
often, more, for administering the trust than the value of what they are
administering. They will charge 200 quid for example, to pay a bill of 50 quid,
because of the time involved.
Can I help further?