The Public Trustee is the go-to body for anyone who doesn’t have family or friends who will act in their best interest when they die. The government departments are also the last line of defence for people who failed to prioritise their affairs before dying.
This means they will work out how to divide up your estate if you die without putting a Will in place, without naming an Executor or putting a Power of Attorney in place. Or they will act as an Executor themselves if they have been appointed as such by the deceased.
Public trustees also provide financial support for people in need including the elderly, people with a disability or other vulnerable groups.
While Public Trustees were established by the government to provide this essential service they operate under a commercial model, meaning they are fully self-funded.
In reality it can be hard for a Public Trustee to act in your best interests if they are only appointed after your death. Growing concerns about the commercial model have also seen a number of government-led inquiries over the past 12 months over the way Public Trustee’s manage their fees, operations and communications with clients.