TRUSTEE

Question 1

Trustee removal

Answer 1

for cause:

1. embezzlement
2. breach of duty
3. fraud
4. self-dealing
5. incapacity
6. hostility

Question 2

Trustee job

Answer 2

manage trust for benefit of beneficiaries

Question 3

Trustee duty

Answer 3

administer the trust
enforce claims
defend claims

Question 4

duty not to delegate

Answer 4

can hire accountants/ lawyers to assist

Question 5

beneficiaries disappointed in trustee investment decisions

Answer 5

result in prudent investor rule.
control and preserve and make productive trust assets in your decision making
- invest in reasonable care prudence and trust of beneficiaries needs in mind.
- put together what you need to accomplish those goals

Question 6

Hindsight rule

Answer 6

beneficiaries use hindsight and sue

Question 7

any individual asset as long as justified in overall investment strategy to accomplish trust purposes

Answer 7

asset failing is not a breach per se

Question 8

number one way to preserve assets

Answer 8

liability insurance

Question 9

protections for 3d parties

Answer 9

real estate brokers

Question 10

TRustee de son tort

Answer 10

hold someone not a trustee and hold accountable as if they were