A group of professionals formed the ITA to assist those who either serve as trustees or provide ancillary services to Trustees. A trustee has a significant responsibility to the trust and its beneficiaries, with personal liability to the trustee.

ITA recommends that its members follow these best practices as follows:

Suggested Best Practices

Understand Your Role

  • Familiarize yourself with the terms of the trust document.
  • Clearly understand your duties and powers as a trustee.
Professional Meeting - Best Practices


  • Maintain open and transparent communication with beneficiaries.
  • Keep beneficiaries informed about trust activities, decisions, and financial status.

Fiduciary Duty

  • Always act in the best interests of the beneficiaries.

Legal and Regulatory Compliance

  • Stay informed about applicable laws and regulations governing trusts.

Asset Management

  • Exercise prudence, diligence, and loyalty in managing trust assets.
  • Develop and follow a sound investment strategy.
  • Regularly review and update the investment portfolio based on market conditions.
  • Take measures to safeguard trust assets from loss or mismanagement and implement effective risk management


  • Follow the guidelines outlined in the trust document for making distributions.
  • Document the reasoning for the distributions.
  • Make distributions promptly.

Regular Review

  • Periodically review the trust’s performance and adjust strategies as needed.
  • Assess the changing needs and circumstances of the beneficiaries.
  • Hire appropriate advisors and consult on a regular basis.


  • Trustees will disclose their fees in writing before the acceptance of the trust.
  • Fees for administration shall be separate for any additional services provided.

Record Keeping

  • Maintain accurate records of all trust transactions.
  • Report at least annually to the vested beneficiaries or as based on the terms of the trust.


  • Treat all beneficiaries fairly and impartially.


  • Maintain confidentiality regarding trust matters and sensitive information.
  • Respects the privacy of beneficiaries.

Professional Integrity

  • Upholds high standards of professional integrity in all dealings.
  • Be honest and forthright in all communications and actions.

Professional Advice

  • Consult with legal, financial, and tax professionals as needed.
  • Make informed decisions with the assistance of experts.

Succession Planning

  • Plan for the succession of the trustee position and develop plans for the continuity of the administration in
    case of unforeseen circumstances.


  • Stay informed about changes in laws, regulations, and best practices related to trust management.
  • Continuously educate yourself on trust and investment matters.

Cyber Security

  • Regularly maintains, updates their computer software and security, backs up files and stays up to date with
    developments in the field of cyber security.


  • Maintains a professional liability policy. Adds specific trustee liability and cybercrime policies, as