Minor trust services

About our services

The purpose of a minor trust is to manage and safeguard assets for a child’s benefit until they reach a specific age. The specific age is usually 18, 21 or 25 years old.

Queensland Public Trustee may act as trustee for a minor trust in situations where a child:

• is named as beneficiary of a trust in a Will, with Queensland Public Trustee appointed as trustee
• receives financial compensation as a victim of an accident or crime, with funds held in trust
• is awarded damages by the Supreme Court, with the money to be held in trust.

As trustee, our primary responsibility is to manage and protect the funds in trust, so they directly benefit the child.  We recognise that the events leading to the creation of a minor trust can often be complex and feel overwhelming. So, our trust administration team is here to assist you every step of the way.

Learn about the steps we take to administer a minor trust

How we manage and invest funds

We carefully invest trust funds in the most suitable option. Our approach includes:

• reviewing investment interest rates annually
• adjusting according to movements in the broader financial market.

Around half of the minor trusts we administer hold assets of less than $10,000. For these smaller trusts, we prioritise low-risk investment options. This is to safeguard the funds and preserve them for the child’s benefit.

For trusts with larger balances and a longer duration, we explore a broader range of investment opportunities. Our aim is to achieve higher returns while continuing to manage risk appropriately.

Learn more about QPT Investments

Requesting funds from the trust

Minor trusts usually allow funds to be used for the child’s direct benefit. This includes expenses related to education, health, and other essential needs.

However, it’s important to know that when funds are withdrawn from the trust that this will impact:

• future investment returns
• the total amount available to the child when the trust matures.

Requests for funds can be made by:

• the child’s legal guardian
• the beneficiary, once they’ve reached the age of 18.

Approvals for fund requests are not automatic. So, it’s best to contact us for guidance before committing to any payments.

Learn how to request funds from a minor trust

About our fees and charges

As part of our commitment to supporting Queenslanders, we offer affordable services for our minor trust services. Many minor trusts have limited assets, and accessing affordable trustee services from private providers may be difficult. To address this, we provide fee rebates that cap our minor trust fees at a small percentage of the trust’s assets.

We provide a statement at least once a year that summarises all the fees and charges applicable to the trust. If you’d like a statement more frequently than that, you just have to ask us.

Find out more about our fees and charges