Duty of obediance

Question 1

Duty of Obediance

Answer 1

The trustee’s duty to follow the settlors wishes as to the disposition of the trust

Question 1

Duty of Obediance

Generally, how the trustee determines the wishes of the settlor

Answer 1

from the terms of the trust

Question 2

UPC 801 Duty to administer trust

Upon acceptance of the trusteeship, the trustee shall

Answer 2

administer the trust in good faith,
in accordance with its terms,
and purposes,
and the interests of the beneficiaries,
and in accord with this code

Question 3

Duty of Obediance

A “letter of wishes” can help provide

Answer 3

clear guidence of wishes

Question 4

A letter of wishes:

Answer 4

1. is a seperate document
2. does not legally binding, so the beneficiaries do not need to see it
3. does not bind the trustee to act in literal obedance to those wishes