Duties And Responsibilities

Question 1

Duties and responsibilities of a trustee

Answer 1

• act in accordance with the trust document and general law
• act fairly to all beneficiaries
• take reasonable care in making investments
• obtain professional advice
• to invest cash as soon as possible
• not to profit from the trust
• protect trust assets
• keep accounts
• declare and account for any tax arising on trust assets
• act as registered owner of the trust property

Question 2

Duties and responsibilities of executor of a will

Answer 2

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Question 3

Duties and responsibilities of an attorney

Answer 3

• duty of care
• carry out instructions included in the LPA
• must not benefit personally
• avoid conflict of interest
• keep donor affairs confidential
• must not delegate powers under LPA unless permitted by the LPA to do so
• keep accurate records