Lesson 11 of 20
In Progress

Duties to Beneficiaries and Office

This section outlines the trustee’s duties to beneficiaries, emphasizing integrity, accountability, and fairness in managing trust assets. Trustees must exercise personal responsibility, treating all beneficiaries equally and avoiding conflicts of interest or self-dealing. While they can contract with beneficiaries, such transactions are presumed suspect unless fully transparent and fair. Trustees cannot delegate core responsibilities but must consult and share oversight in cases of multiple trustees. Their duty extends beyond maintaining assets to actively furthering the trust’s interests. All actions must be guided by good faith, loyalty, and adherence to the trust instrument’s provisions, ensuring alignment with the trust’s purpose and protection of beneficiaries’ rights.

 

00:00 Introduction to Trustee Duties
01:16 Equal Treatment of Beneficiaries
02:48 Contracts with Beneficiaries
04:16 Professional Employment and Conflict of Interest
06:29 Gifts and Good Faith
08:26 Trust Management and Delegation
12:19 Conclusion and Legal Considerations