What are some of the fundamental duties of a trustee?
What will be an ideal response?
ATrustee shall administer the trust in good faith and according to its terms and the law.
A Trustee shall exercise the standard of care, skill, and caution generally exercised by compensated trustees with respect to comparable estates in the same geographic area. A Trustee who has special skills or expertise, or is selected as a Trustee in reliance upon the Trustee’s representation that the Trustee has special skills or expertise, has a duty to use those special skills or expertise.
A Trustee shall act solely in the interest of the beneficiaries of its estate, not in the interest of the Trustee personally.
ATrustee shall make a reasonable effort to resolve any conflicts (including conflicts as to favorable or adverse tax consequences) between or among the Trustee and those persons who are beneficially interested in its estate by mutual agreement.
ATrustee shall make a reasonable effort to verify relevant facts.
A Trustee shall keep all current beneficiaries a trust who have attained the age of twenty-five years reasonably informed concerning the administration of the trust and material facts necessary for the beneficiaries to protect their interests.
A Trustee may rely on the records and other representations of a Predecessor Fiduciary (meaning a predecessor Trustee under this instrument or a personal representative or trustee of any estate or trust from which distributions may be made to the Trustee), and need not request an accounting from or contest any accounting provided by a Predecessor Fiduciary.
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Answer the following statement true (T) or false (F)
What are the qualifications under the U.S. Constitution to become President?
What will be an ideal response?
When an offer is made, who has the power to create a contract?
A) the offeror B) the offeree C) both the offeror and the offeree D) either the offeror or the offeree