You can elect either an individual or corporation to act as trustee in your discretionary trust. Most people choose to elect a corporate trustee for tax benefits as well as its limited liability. The trustee is personally liable for the trust’s debts. Therefore a company trustee offers more protection for an individual’s personal assets to be protected.
This information is of a general nature only and does not constitute professional advice. You must seek professional advice in relation to your particular circumstances before acting.
Updated — Jul 27, 2017