Description
Explains the scope of a trustee’s authority. Describes the duty of loyalty and the duty to preserve trust property. Explains how a prudent trustee would delegate authority as a co-trustee. Describes administrative duties, including the duty to keep accounts. Explains trust administration during the settlor’s lifetime and following the settlor’s death, and defines discretionary powers. Identifies issues related to trustee vacancies and successor trustees.
What You’ll Learn
After completing this course, students will be able to:
- Describe a prudent trustee’s duties and behaviors
- Describe a trustee’s administrative duties
- Explain the powers of the trustee during the settlor’s lifetime and after the settlor’s death
