Question
The trusteees of a trust are a solicitor specialising in trust administration and a retired teacher. The trust deed contains no additional administrative provisions. The
The trusteees of a trust are a solicitor specialising in trust administration and a retired teacher. The trust deed contains no additional administrative provisions. The solicitor wants to be paid for their time and expertise in dealing with trust matters.
Which ONE of the following statements is CORRECT?
The solicitor can be paid by the trust if he becomes the sole trustee.
The solicitor can be paid by the trust if the trust investments produce a reasonable return.
The solicitor can be paid by the trust if the fees are reasonable and the teacher gives written consent.
The solicitor cannot get paid by the trust because there is no authorisation in the trust deed.
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