With respect to the role of a trustee, which of the following statements is correct?

Question

Quizplus · Accepted Answer

The role of a trustee is to hold formal legal title to the trust property on behalf of the beneficiaries. They have a fiduciary duty to manage the trust in the best interests of the beneficiaries and cannot benefit from it themselves. The settlor of the trust can be the trustee, but not one of the beneficiaries. The benefits of the trust will accrue to the beneficiaries, not the trustee. The trustee can enter into contracts on behalf of the trust, but only in accordance with their duties to manage the trust for the beneficiaries.

With Respect to the Role of a Trustee, Which of the Following