Trustee Duties

Question 1

Duty of Care

Answer 1

• to take as much care in his trust responsibility as he would in his own property
• they have to be well informed
  Objective test

Question 2

Duty of Loyalty

Answer 2

• cannot put his personal interests in conflict with the financial interest of teh trust
• can’t receive a profit or benefit from the trust
  Subjective test

Question 3

Trustee Violation

Answer 3

trustee can only be financially liable of the trust lost money/potential money AND they violated their duties