Overview: Administration of trusts Flashcards

1
Q

What are the two key components of a trustee?

A

1) property: Trustee holds property for beneficiary
2) obligation: Trustee must exercise rights on behalf of beneficiary

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2
Q

What are the roles of a trustee?

A

1) Voluntary
2) typically unpaid
3) Joint office
4) broad powers curtailed by duties

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