Which duty prohibits a trustee from personally profiting from his or her position as trustee other than the compensation allowed by contract or law) ?
A) Duty of loyalty
B) Duty to take possession of and preserve trust property
C) Duty to prevent the investment of the trust property
D) Duty to make payments of income and principal to the named beneficiaries
Correct Answer:
Verified
Q12: Trustees must generally be paid.
Q21: The court may appoint or replace a
Q24: Which is NOT a trustee's duty?
A)Duty to
Q25: Which is NOT considered valid grounds for
Q25: Which is NOT an essential element of
Q26: Which is an invalid trust combination?
A)The settlor
Q27: To be a settlor,a person must meet
Q28: Which is an example of remainder beneficiary
Q29: Which judicial remedy can a beneficiary use
Q30: The trustee in the trust instrument is
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents