Trustee Duty of Loyalty

Question 1

Duty of loyalty

Answer 1

A trustee must administer a trust solely in the beneficiaries interests

Cannot take unreasonable fee

Cannot commingle trust property

Question 2

Under the Duty of Loyalty a transaction is voidable

Answer 2

by the beneficiary if it involves trust property and is affected by a conflict between the trustees fiduciary and personal interests

Question 3

There is a presumption of conflict under the Duty of Loyalty if

Answer 3

The the transaction was entered into by the trustee and his close relatives, agent, or entity in which the trustee has an interest