Take a look at the duties and powers of a trustee, including the general obligations, prohibition on self-dealing, trustee liability, and the rules for trustee delegation and multiple trustees.
Now that you’ve learned about the various aspects of trusts, let’s take a look at the people who hold and manage the trust property: the trustees. Today, you’ll be learning about the duties, powers, and other requirements of trustees.
We’ll start off our discussion by talking about the general duties of a trustee, as well as the prohibition against self-dealing. After that, we’ll cover a trustee’s liability, including the statute of limitations for bringing an action against a trustee. We’ll...