Part 3Trustees’ duties and information obligations
Duties of trustee: Mandatory duties
23Duty to know terms of trust
A trustee must know the terms of the trust.
Trusts Act 2019
Trustees’ duties and information obligations - Duties of trustee - Mandatory duties
23: Duty to know terms of trust
"Trustees must know and understand the trust rules and their job."
If you are a trustee, you must know the terms of the trust. This means you need to understand what the trust is about and what you are supposed to do. You have to be aware of the rules and conditions that apply to the trust.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM7382902.