This consultation closed September 26, 2014.
The B.C. government invites your comments on recommendations that may form the basis of a new Trustee Act.
A new Trustee Act would provide a set of comprehensive rules governing the duties and powers of trustees, the administration of trusts, and the powers of the court to intervene in a trust.
The law of trusts affects every British Columbian through:
- Wills and estates
- Protecting the property of children or vulnerable persons
- The sale and purchase of real property
- Commercial transactions
- Managing pension funds, and
- Charities and other not-for-profit purposes
The current Trustee Act contains many provisions dating from 19th century English trustee legislation and is in great need of reform.
After seven years of study and consultation, in 2004 the British Columbia Law Institute (BCLI) issued a report entitled "A Modern Trustee Act for British Columbia." In 2008, the Uniform Law Conference of Canada (ULCC) undertook a project to develop a reformed uniform trustee statute that could be enacted in all provinces except Quebec. This project led to the creation of the Uniform Trustee Act, based on the British Columbia Law Institute Report.