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WILLS & ESTATES
ESTATE PLANNING
PROBATE
TRUSTS
WILLS
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The duties of a Trustee include the following:
- Execute the trust in accordance with the terms of the trust or will.
- Any duty that requires the
trustee to exercise skill and judgment cannot be delegated
to another person unless specifically provided for in the
trust deed or Will. This does not prohibit the trustee from
hiring a professional to evaluate a matter where it would be
prudent to do so.
- Implement a
rational degree of care, skill, diligence and judgment when
managing the trust assets.
- Possess and safeguard the
trust property. The trustee must also defend the trust and
the beneficiaries against anyone who would dispute the
validity of the trust.
- Act in a prudent manner when it comes to investing, acquiring, selling, and managing the
trust property in order to make the property productive.
- Treat all of the
beneficiaries impartially.
- Avoid any conflict
of interest and duty.
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