Other key features of the Trustee Investments Act are:
The ability to assign people the roles of nominees and agents
The trustee is able to appoint agents to carry out a range of activities referred to as ‘delegable functions’ as long as they do not involve the distribution or allocation of the trust’s assets in any way.
The trustees’ ability to obtain land
Trustees are allowed to purchase land as means of investment, or for the beneficiaries to live on or for any other reason deemed suitable.
The trustees’ right to have their expenses covered
Trustees are entitled to have their expenses remunerated if this is stated in the trust instrument or if the trustee is acting in a ‘professional capacity’.
If you have been assigned the role of trustee, you may wish to consider your investment options carefully. Our trustee savings and investment comparison tables contain details of several different investment options that may be of interest to you.