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Can a trustee spend money on themselves?

The trustee might be paid for their services, but they should not take, borrow, or lend the trust funds or trust income for their own personal use. Instead, the trustee can only use the trust funds for costs related to the trust.

Who has more power a trustee or beneficiary?

And although a beneficiary generally has very little control over the trusts management, they are entitled to receive what the trust allocates to them. In general, a trustee has extensive powers when it comes to overseeing the trust.

What a trustee Cannot do?

The trustee cannot grant legitimate and reasonable requests from one beneficiary in a timely manner and deny or delay granting legitimate and reasonable requests from another beneficiary simply because the trustee does not particularly care for that beneficiary. Invest trust assets in a conservative manner.

What a trustee Cannot do?

The trustee cannot grant legitimate and reasonable requests from one beneficiary in a timely manner and deny or delay granting legitimate and reasonable requests from another beneficiary simply because the trustee does not particularly care for that beneficiary. Invest trust assets in a conservative manner.

What is an example of a trustee?

For example, the directors of a bank may be trustees for the depositors, directors of a corporation are trustees for the stockholders and a guardian is trustee of his wards property.

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