Who can act as a trustee of a trust in Ontario?

In Ontario, almost any adult with legal capacity can act as a trustee, including a family member, a close friend, a professional advisor, or a trust company. There is no formal licensing requirement for individual trustees, but the role carries significant legal responsibilities, so the choice should be made carefully.

A trustee must act honestly, in good faith, and in the best interests of the beneficiaries. Ontario's Trustee Act outlines the core duties, including the duty to invest trust assets prudently, to keep accounts, and to avoid conflicts of interest. Trustees who breach these duties can be held personally liable for losses.

For complex or long-running trusts — for example, one that will hold assets for a young child for many years — many families choose a corporate trustee (a trust company). Corporate trustees bring professional experience and institutional continuity, but they charge fees. Individual trustees often serve without charge, though they can be reimbursed for reasonable expenses.

You can name co-trustees if you want shared oversight, or allow your trustee to appoint a successor if they are unable to continue. Whoever you choose, make sure they understand the role and are willing to take it on before the will is signed.