Explains the scope of a trustees 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 settlors 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: