What duties does a trustee have to the beneficiaries?
Video Transcript
The trustee owes fiduciary duties to the beneficiaries of the trust. These include 1) the duty of loyalty, which means that the trustee must refrain from self-dealing and must act in the best interest of the beneficiaries. 2) That the trustee owes the duty of impartiality to the beneficiaries, meaning that the trustee cannot favor one beneficiary over another beneficiary. 3) The duty to appropriately account to the beneficiaries of the trust.
