trustee-beneficiary relation Synonyms
No Synonyms and anytonyms found
trustee-beneficiary relation Meaning
Wordnet
trustee-beneficiary relation (n)
the responsibility of a trustee to act in the best interests of the beneficiary
trustee-beneficiary relation Sentence Examples
- The trustee-beneficiary relation is a fiduciary relationship that imposes a duty of loyalty and prudence on the trustee.
- Trustees have a duty to administer the trust in the best interests of the beneficiaries.
- Beneficiaries have a right to receive information about the trust and to hold the trustee accountable for their actions.
- The trustee-beneficiary relation is governed by the terms of the trust instrument and the applicable state law.
- A breach of the trustee-beneficiary relation can result in the trustee being removed or held liable for damages.
- The trustee has a duty to preserve the trust property and to make it productive for the benefit of the beneficiaries.
- The beneficiary has a right to receive the trust income and principal according to the terms of the trust.
- The trustee has a duty to keep the beneficiary informed about the administration of the trust.
- The beneficiary has a right to petition the court to enforce the trust terms or to remove the trustee.
- The trustee-beneficiary relation is a complex one that requires careful drafting of the trust instrument and ongoing communication between the parties.
FAQs About the word trustee-beneficiary relation
the responsibility of a trustee to act in the best interests of the beneficiary
No synonyms found.
No antonyms found.
The trustee-beneficiary relation is a fiduciary relationship that imposes a duty of loyalty and prudence on the trustee.
Trustees have a duty to administer the trust in the best interests of the beneficiaries.
Beneficiaries have a right to receive information about the trust and to hold the trustee accountable for their actions.
The trustee-beneficiary relation is governed by the terms of the trust instrument and the applicable state law.
