Subpart 3—Trustees’ obligations to keep and give trust information

Documents to be kept by trustees

45 Trustee must keep core documents

Each trustee of a trust must keep, so far as is reasonable, the following documents relating to the trust:

(a)

the trust deed and any other document that contains terms of the trust:

(b)

any variations made to the trust deed or trust:

(c)

records of the trust property that identify the assets, liabilities, income, and expenses of the trust and that are appropriate to the value and complexity of the trust property:

(d)

any records of trustee decisions made during the trustee’s trusteeship:

(e)

any written contracts entered into during that trustee’s trusteeship:

(f)

any accounting records and financial statements prepared during that trustee’s trusteeship:

(g)

documents of appointment, removal, and discharge of trustees (including any court orders appointing or removing trustees):

(h)

any letter or memorandum of wishes from the settlor:

(i)

any other documents necessary for the administration of the trust:

(j)

any documents referred to in paragraphs (a) to (i) that were kept by a former trustee during that person’s trusteeship and passed on to the current trustee.