Who may be trustees ?

A trustee may be an individual or a trust company. Trustees are given the power in a Will to exercise many functions including investing money, selling assets and distributing the proceeds of an estate according to the terms of the trust.

You may not wish to give a lump sum gift to a person whom you suspect may squander the money, so you can appoint a trustee. The beneficiary may then receive set monthly payments from the trust of an adequate amount. Trust funds may be created to handle the affairs of an estate for the benefit of infants.