1.Patricia's daughter, Megan, died 6 months ago, and Patricia is now the legal guardian and trustee of her two grandchildren and their assets. As Megan was very successful in her chosen profession, she left a substantial amount on trust for her children. Patricia wishes for advice on the obligations and powers she has in relation to investing the trust assets in following scenarios:

a)The trust document does not provide Patricia with any express powers of investment. What powers of investment will she therefore have?;

b)She wishes to invest 95,000 (1/3 of the trust assets) in her own company, HorseArt4Sale. This is a shop that sells artwork made by horses, and has so far failed to make a profit in the last 3 years of operation;

c)She wishes to invest a further 12,000 in a donkey sanctuary in Poole due to the ethical work that they are doing - the return rate will be only 0.45% per annum though. She also has received an investment opportunity in a glue factory that would provide a return rate of 9% per annum, but does not like what they do to the horses and donkeys;

d)She also wishes to invest the remaining 178,000 in Bitcoin. This is something she knows nothing about, but is unwilling to take professional advice as she thinks all professionals are "crooks who don't know what they're talking about - all they want to do is make money from you".