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A trustee of a trustee often takes certain actions, and beneficiaries of the trust wonder whether that action falls outside the range of duties that a trustee has toward the beneficiaries.
Many trust instruments specifically describe the duties of a trustee. And to the extent a particular trustee duty is not defined in the trust instrument, state trust law may define that duty.
It is important to note that provisions of trusts that limit a trustee's duty of loyalty to the beneficiary are ineffective.
Trustees of trusts have certain defined duties regarding loans from trusts, sales by a trustee to or from himself, trustee annual accounting to beneficiaries, the requirement of trustees to furnish information, and the fact that trustees are bound to act as a prudent administrator.
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Paul Rabalais
Estate Planning Attorney