Which of the following statements is the most appropriate for describing the duties of trustees in relation to the beneficiaries of a discretionary trust of personal property in which the principal class of beneficiaries are the five children of the settlor
A) The trustees must always give effect to the wishes of the beneficiaries.
B) The trustees must always consult the beneficiaries, although they are not obliged to give effect to the wishes which the beneficiaries express.
C) The trustees must act in the best interests of the beneficiaries, even if this may not be what the beneficiaries want.
D) The nature of a discretion is that the trustees can do whatever they want without regard to the views or best interests of the beneficiaries.
Correct Answer:
Verified
Q1: Which of the following statements is the
Q3: When will the courts consider that a
Q4: Which one of the following situations is
Q5: Which of the following statements is false?
A)
Q6: Which of the following statements is the
Q7: Five partners in a dental practice acquire
Q8: Norma is one of three trustees of
Q9: Mary and Nigel are trustees of a
Q10: Which of these statements is false?
A) New
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