Читать книгу Form 1041 - Stephen Brooks - Страница 19

The nature and extent of a trustee's duties is determined first by the trust agreement, and then in areas not addressed by the trust agreement by the law governing the trust.²² In carrying out this responsibility, the trustee has what is called a fiduciary duty to the trust beneficiary or beneficiaries. Generally, the trustee is charged with the responsibility of administering the trust property solely in the interest of the trust beneficiaries.²³ If there is more than one trust beneficiary, the trustee must deal with them all impartially.²⁴

The trustee is generally entitled to reasonable compensation for performing its duties as trustee.²⁵ Often the trustee's compensation is based on a percentage of the value of the trust assets. The trustee must also keep accurate records with respect to the administration of the trust²⁶ and provide complete and accurate information concerning the nature of the trust property upon reasonable request.²⁷