Fiduciary Duties of Trustees

 

[wex:trustee|Trustees] have certain legal duties in relation to the management of the [wex:trust].  The most important duty is the duty of loyalty. Since trustees are the legal owners of the trust property, the duty of loyalty prevents the trustee from taking advantage of the legal ownership to use the trust property for his own benefit. The trustee must act in [wex:good faith] when entering into transactions and invest prudently.
 
See also: [wex:fiduciary duty].

 

Taxonomy upgrade extras: 
Keywords: