Question
QUESTION 3 What are the four ways discussed in the materials for a trustee to avoid liability for an act that would otherwise be a
QUESTION 3
- What are the four ways discussed in the materials for a trustee to avoid liability for an act that would otherwise be a breach of trust?
1. | Permission from a majority of beneficiaries, permission from any remandermen, order of the court, and statute. | |
2. | Consulting a lawyer, asking a priest, permission from the person who drafted the trust document, and permission from the court. | |
3. | Permission from the settlor, permission from a majority of the beneficiaries, permission from any prior trustee, and permission from the court. | |
4. | Exculpatory clause in the trust, statute, court permission, and informed consent of all beneficiaries. | |
5. | Destroying the trust document, permission from the court, statute, and court order. |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started