The Public Trustee Department was established on 22nd November, 1930. The Department commenced its operations in 1931 with a staff of six. That staff comprised of the Public Trustee, two gazetted officers, one clerical officer and two peons. However over 54 Estates and trusts came under his administration. Though small in number there was a colossal amount of wealth in possession of those trusts and estates. Thereafter up to now, wealthy persons who lived in this country have entrusted their wealth to this department to be spent on charity irrespective of difference in race, religion or caste.There were renowned public spirited individuals like Anagarika Dharmalpala, Sir D.B. Jayatilleke, A.A. de Alwis, Mudaliyar Jayawickrama, Leonard Rupasinghe, Sir Chandrasekera, Mudaliyar Silva Wijesinghe and Joseph Hawk among those philanthropists.
The Public Trustee is an incorporated institution created by the Public Trustee Ordinance No. 1 of 1922. This law provides for the perpetual succession of an officer known as the Public Trustee of Sri Lanka. In the event of the said post being vacated by the holder, the official property is passed on to the successor. Accordingly, the successor continues to perform the duties of the Public Trustee as if he, the successor, and the holder were one.