Modernization of Alberta’s Trustee Act
A new Alberta provincial Trustee Act was introduced as Bill 12 on March 29, 2022 and was passed by the legislature on April 29, 2022. Once proclaimed into force, the new Trustee Act (the New Act) will provide a modern framework for trust law in Alberta. Overall, the new Trustee Act clarifies the responsibilities and powers of trustees and will provide greater protections for beneficiaries. Additionally, the new provisions would reduce administrative burdens imposed by trust law, as it lessens