Who should be the Trustee? What is a trustee? The Trustees are the managers of the fund whose job is to make sure the fund is administered correctly. They are responsible for ensuring that the fund does the things that are necessary for example organising for the tax return to be lodged. They are the legal owners of the assets and all assets must be held in the name of the trustee in trust for the superannuation fund. Who can be trustee? The trustee can be two or more individuals or a company (with the members acting as directors). All fund members have to be the trustees and all trustees must be members except for a one member fund. This means that in a two member fund both members must be the trustees either individually or as directors of the corporate trustee. It also means that no-one else can be the trustee of that fund. With a one member fund there needs to be two individuals (one being the member) or one or two directors of a corporate trustee (the member being one of these). This means with a one member fund you can have -- the member and someone else as individuals or directors of the company, or the member as the only director of the corporate trustee. Where the member is under 18 a parent or legal guardian can act in their place. Any parent acting for the minor child is also required to be a member of