Appointment, Compensation, and Removal of Trustees

Question 1

Appointment of a Trustee

Answer 1

S may appoint or grant power to appoint to others (usually B’s)
Court will fill vacancies if not provided for in the will.

Question 2

A designated person accepts trusteeship by

Answer 2

substantially complying w/ a method of acceptance listed in the trust instrument.

Question 3

How may a trustee resign?

Answer 3

As described in trust instrument OR by permission of the c

Question 4

How to remove a trustee

Answer 4

1. in accordance w/ trust instrument OR

2. upon petition by the court of any interest party showing good cause

Question 5

Compensation of Trustee

Answer 5

Entitled to R comp for services rendered. Look to trust instrument

Question 6

Types of Express Trusts

Answer 6

1. pour-over wills
2. charitable trusts
3. Honorary Trust

Question 7

Charitable trusts are

Answer 7

1. favored by law
2. liberally construed
3. tax exempt and RAP

Question 8

Charitable trusts may not be revoked or modified by S unless:

Answer 8

S has reserved power to do so

Question 9

who enforces charitable trusts?

Answer 9

Attorney General

Question 10

Cy Pres doctrine is applicable in situations in which the specific charitable purpose intended by the settlor:

Answer 10

1. Has already been accomplished
2. no longer may be accomplished
3. some other change in circumstances render it inpracticable to administer the trust as provided by the settlor

Question 11

Honorary Trusts are

Answer 11

Special types of charitable trusts, where the purpose as expressed by S is normally unenforceable b/c no IDable B or no IDable public benefit.