Choose a Trustee
Learn more about the ways Montane makes your trustee’s role smooth and stress-free.
When you make a Montane Life Trust, normally you will nominate yourself as trustee, and perhaps a spouse as co-trustee. But you will also nominate a backup or successor trustee to seamlessly take over if you can no longer perform the role.
When choosing a co-trustee or successor trustee, while you need someone trustworthy and who respects and knows your values, this does not have to be a family member or spouse. The role is complex and requires a skill set that close relatives may not have. If this is the case, choose a trusted person who has the skills over choosing a loved one out of obligation.
When you choose a trustee of your Montane Life Trust, you automatically give them access to the latest most up-to-date resources and apps to help them understand and carry out their role.
Trustee-Assist App
Montane’s trustee-assist app allows your trustee to get all the know-how to prepare manage your trust – and more.
Trustee Responsibilities and Obligations
An trustee has several tasks to arrange, including:
- becoming familiar with the provisions of the trust
- to know where the trust document, trust assets, insurance policies (medical, life, disability, long term care) and other important papers are located.
- to keep trust assets and their own separate.
- unless the trust authorises it, a trustee cannot use trust assets for their own benefit.
- unless the trust says they can, a trustee must treat beneficiaries equally. There can be no show of favouritism.
- to invest trust assets conservatively, with minimal risk and reasonable growth.
- to keep accurate records, filing tax returns and reporting to the beneficiaries as the trust requires.
Montane provides support and information from the time of making the Montane Will, changing it and administering it so that executors carry out their role with clarity, knowledge and organisation.
Learn more
- Find out what happens when your Montane Life Trust ends.
- Learn more about how to get started with Montane Life Trust.
- Use Montane Life Trust to ensure hassle-free gifting of assets.
- Learn how to have flexible options that keep you in control.
Contact Montane Support
Need more help? Save time by starting your support request online and we’ll connect you to an expert.