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A Guide to Investment Duties of a Trustee  

Author:  Richard M. Horwood.; Lauren J. Wolven.

Source: Volume 23, Number 03, Spring 2006 , pp.260-266(7)

Journal of Taxation of Investments

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As common sense would indicate, a trustee has a general duty to act reasonably and competently in administering a trust or estate. Trustees who behave as though they are in a partnership with the beneficiaries likely will find themselves less often thrust into serious controversy with the beneficiaries. Furthermore, a trustee that communicates well with the beneficiaries may find it has more defenses upon which it can rely if litigation ensues. The authors, in their experience, have found that one of the most frequent complaints beneficiaries make is that they are not being provided with complete information regarding administration of the trust. In many cases, controversy can be avoided, even when dealing with a “difficult” beneficiary, if the beneficiaries are made to feel included in the administration process.


Affiliations:  1: Horwood Marcus & Berk Chartered; 2: Horwood Marcus & Berk Chartered.

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