A trustee holds and administers assets for the benefit of someone else. In South Africa the role appears in family and business trusts, retirement funds, body corporates, non-profit organisations and school governing structures, and in each case the trustee is legally accountable for how the assets are managed.
This guide sets out trustee duties and responsibilities in practical terms and how they differ by trust type. It sits in the Management Leadership duties and responsibilities cluster, part of the wider job duties guide. It is general information rather than legal advice.
What Does a Trustee Do?
A trustee takes decisions about assets that are not theirs, for people who often cannot take those decisions themselves. The trust deed sets out what the trust is for, who benefits and what the trustees may do, and the trustee’s first duty is to act within that document.
Trusteeship is frequently accepted casually, particularly in family trusts where a relative or the family accountant is appointed. That is a mistake. Trustees are appointed by the Master of the High Court, must act jointly unless the deed says otherwise, and carry real accountability for how the trust is run.
Key Trustee Duties and Responsibilities
- Acting strictly within the powers and objects set out in the trust deed.
- Acting in the interests of the beneficiaries rather than personally.
- Keeping trust assets separate from personal assets at all times.
- Taking decisions jointly with co-trustees unless the deed provides otherwise.
- Exercising the care, diligence and skill expected of someone managing another’s affairs.
- Maintaining proper accounting records and preparing annual financial statements.
- Holding trustee meetings and minuting decisions properly.
- Making distributions to beneficiaries only as the deed permits, and recording the resolution.
- Investing trust assets prudently and in line with the deed.
- Declaring conflicts of interest and managing them transparently.
- Meeting the trust’s tax and statutory obligations and reporting to the Master where required.
- Accounting to beneficiaries on the administration of the trust.
Daily Tasks of a Trustee
Trusteeship runs on a cycle of meetings and decisions rather than a working day.
- Ongoing: monitor trust assets, income and any obligations falling due.
- Before decisions: check the deed permits what is proposed and that co-trustees are involved.
- At meetings: consider proposals, record resolutions and note any conflicts declared.
- Annually: approve financial statements, review investments and attend to tax submissions.
- On changes: notify the Master of trustee changes and obtain updated letters of authority.
Trustee Skills and Competencies
- Reading the deed: the single most important habit, and the most commonly skipped.
- Financial literacy: understanding statements, investments and distributions.
- Impartiality: balancing the interests of different beneficiaries fairly.
- Record keeping: resolutions and minutes that show decisions were properly taken.
- Independence: resisting pressure from a founder or dominant beneficiary.
- Willingness to take advice: recognising when a decision needs professional input.
Trustee Duties by Workplace or Industry
Family and Business Trusts
Duties centre on administering assets for the family beneficiaries, distributions by resolution, and keeping the trust genuinely separate from the founder’s personal affairs. Trusts that are run as an extension of one person’s wallet are vulnerable to challenge.
Retirement Funds
Fund trustees operate under pension fund legislation with duties around investment policy, member communication, benefit decisions and reporting to the regulator, plus prescribed training requirements.
Non-Profit Organisations
Duties include ensuring funds are applied to the stated objects, meeting donor conditions, and maintaining the registrations that give the organisation its status.
Body Corporates and Community Schemes
Trustees of a body corporate administer the common property and finances of the scheme under sectional title legislation, with duties around levies, budgets, insurance, maintenance and enforcing the conduct rules.
Trustee Duties for a CV
Trusteeship demonstrates governance and financial responsibility, and is worth listing even when unpaid. Use the duties for a CV guide for the method.
- Served as a trustee of a body corporate of 84 units, overseeing an annual budget of R3.1 million.
- Approved annual financial statements and reviewed insurance and reserve fund provision.
- Participated in trustee decisions by resolution, with all meetings properly minuted.
- Declared and managed conflicts of interest in line with the governing rules.
Related Job Roles and Responsibilities
These guides cover the roles and next steps most closely related to this one.
- Fiduciary duties
- Director duties and responsibilities
- Chairperson duties and responsibilities
- Treasurer duties and responsibilities
- Segregation of duties
Frequently Asked Questions About Trustee Duties
What are the duties of a trustee?
Acting within the trust deed, acting in the beneficiaries’ interests, keeping trust assets separate from personal assets, deciding jointly with co-trustees, exercising care and diligence, keeping accounting records and financial statements, minuting decisions, making distributions only as permitted, investing prudently, declaring conflicts and meeting statutory obligations.
Can one trustee act alone?
Generally no. Trustees are expected to act jointly unless the trust deed expressly allows otherwise, and decisions taken by one trustee alone can be challenged. Check the deed before assuming any individual authority exists.
Are trustees personally liable?
Trustees can be held liable for loss caused by breaching their duties, and indemnity provisions in a deed do not cover everything. Acting within the deed, keeping records and taking advice on significant decisions are the practical protections. Seek legal advice on any specific concern.
Do trustees need to be appointed by the Master?
For trusts governed by the Trust Property Control Act, trustees act on the authority of letters of authority issued by the Master of the High Court. Acting before that authority is issued is a common and serious error. Confirm the current requirements with the Master or a legal practitioner.
This page is general information, not legal advice. The trust deed, the Trust Property Control Act and any sector-specific legislation such as pension fund or sectional title law govern trustee duties and take precedence over this guide.
Last reviewed: 2 September 2026