Trustee clause: Copy, customize, and use instantly
Introduction
A trustee clause defines the role, responsibilities, and powers of a trustee within the context of an agreement. The trustee is often a third-party entity or individual appointed to manage assets, investments, or specific duties in accordance with the terms set out in the agreement. This clause is crucial for establishing trust and ensuring that the trustee adheres to their duties in managing and safeguarding assets or interests on behalf of the beneficiaries.
Below are templates for trustee clauses tailored to different scenarios. Copy, customize, and insert them into your agreement.
Trustee clause for general duties and powers
This variation applies when the trustee’s general duties and powers are outlined.
The Trustee shall hold, manage, and distribute the assets in accordance with the terms of this Agreement. The Trustee shall have the power to make decisions regarding the investment, administration, and distribution of the assets, provided that such decisions are in the best interest of the beneficiaries and in accordance with the fiduciary duties owed to them.
Trustee clause for appointment of trustee
This variation applies when the trustee is being formally appointed.
[Party Name] hereby appoints [Trustee Name] as Trustee for the purposes set forth in this Agreement. The Trustee is authorized to act on behalf of the beneficiaries in accordance with the terms outlined herein, including managing and distributing the trust assets in a manner consistent with the fiduciary duties imposed by this Agreement.
Trustee clause for resignation of trustee
This variation applies when the trustee has the right to resign.
The Trustee may resign from their duties at any time upon providing [insert number of days] days' written notice to [the parties involved]. Upon resignation, a successor Trustee shall be appointed by [the party or governing body responsible for selecting the new Trustee], who shall assume all rights and responsibilities under this Agreement.
Trustee clause for trustee's compensation
This variation applies when the trustee is compensated for their services.
The Trustee shall be entitled to compensation for their services, as determined by [the parties involved] or in accordance with industry standards. Such compensation shall be paid from the trust assets and is subject to approval by [the parties responsible for overseeing the Trustee’s performance].
Trustee clause for trustee’s authority to delegate powers
This variation applies when the trustee is allowed to delegate certain powers.
The Trustee shall have the authority to delegate any or all of their duties and powers to third-party agents, managers, or other professionals as deemed necessary to fulfill the terms of this Agreement. However, the Trustee shall remain ultimately responsible for ensuring that such duties are properly carried out in accordance with the Agreement’s terms.
Trustee clause for trustee’s duties regarding investments
This variation applies when the trustee’s investment duties are outlined.
The Trustee shall have the authority to manage the investments of the trust assets, ensuring that investments are made prudently and in line with the trust’s objectives. The Trustee shall be responsible for reviewing the performance of investments and making adjustments as necessary to safeguard the interests of the beneficiaries.
Trustee clause for trustee's liability
This variation applies when the trustee’s liability is defined.
The Trustee shall not be held liable for any loss or damage to the trust assets unless such loss is the result of gross negligence, willful misconduct, or a breach of fiduciary duties. The Trustee is not liable for any act or omission performed in good faith or based on reasonable judgment in accordance with the terms of this Agreement.
Trustee clause for trustee’s reporting obligations
This variation applies when the trustee has specific reporting obligations.
The Trustee shall provide regular reports to the beneficiaries, detailing the status of the trust assets, any investments, and the administration of the trust. Reports shall be delivered [quarterly/annually] or as otherwise agreed upon by the parties, and shall include any relevant financial statements, distributions, and investment performance summaries.
Trustee clause for trustee’s removal
This variation applies when the trustee can be removed from their position.
The Trustee may be removed from their position by [the parties responsible for removal] with or without cause upon written notice. In the event of the Trustee's removal, a successor Trustee shall be appointed in accordance with the provisions of this Agreement, and the removed Trustee shall transfer all relevant records and assets to the new Trustee.
Trustee clause for trustee’s conflict of interest
This variation applies when the trustee is required to disclose conflicts of interest.
The Trustee shall disclose any potential conflicts of interest that may arise during the course of their duties under this Agreement. In the event that a conflict of interest is identified, the Trustee shall refrain from taking any action that may impair their impartiality or violate their fiduciary duties to the beneficiaries.
Trustee clause for trustee's authority over distributions
This variation applies when the trustee is responsible for making distributions.
The Trustee is authorized to make distributions from the trust assets in accordance with the terms set out in this Agreement. The Trustee shall ensure that all distributions are made fairly and in a manner consistent with the needs and interests of the beneficiaries, taking into account any specific instructions provided in this Agreement.
Trustee clause for trustee’s powers in case of default
This variation applies when the trustee has specific powers in case of default.
In the event of a default by any party under this Agreement, the Trustee shall have the authority to take any necessary action to protect the interests of the trust. This includes, but is not limited to, initiating legal proceedings, securing assets, or making distributions to prevent further loss or harm to the trust.
Trustee clause for co-trustees
This variation applies when there are co-trustees.
In the event that more than one Trustee is appointed, the Trustees shall act jointly in the administration of the trust. Any decision made by the Trustees must be approved by a majority of the Trustees, unless otherwise specified in this Agreement. If the Trustees cannot agree on a particular issue, they shall seek mediation or arbitration as a means of resolving the disagreement.
Trustee clause for trustee’s discretion in managing assets
This variation applies when the trustee has discretion in managing trust assets.
The Trustee shall have the full discretion to manage the assets of the trust in a manner they deem appropriate, taking into account the interests of the beneficiaries and the objectives of the trust. The Trustee’s discretion shall be exercised in good faith and in accordance with the terms and conditions set forth in this Agreement.
Trustee clause for successor trustee appointment
This variation applies when the process for appointing a successor trustee is outlined.
In the event that the Trustee is unable or unwilling to continue their duties, a successor Trustee shall be appointed by [the responsible party] within [insert number of days] days. The successor Trustee shall assume all rights and responsibilities of the original Trustee in accordance with the terms of this Agreement.
Trustee clause for trustee’s indemnification
This variation applies when the trustee is indemnified for their actions.
The Trustee shall be indemnified and held harmless by the parties to this Agreement for any actions taken in good faith while performing their duties under this Agreement, except in cases of gross negligence, willful misconduct, or fraud. The indemnification will cover any legal fees, claims, or damages arising from the Trustee’s actions.
Trustee clause for powers and duties
This variation outlines the trustee's general powers and duties regarding the management of trust assets.
The Trustee shall have the power to manage, invest, and distribute the assets of the trust in accordance with the terms of this Agreement. The Trustee is required to act in the best interests of the beneficiaries, exercising prudent judgment and adhering to fiduciary duties to ensure that the trust assets are safeguarded.
Trustee clause for trustee’s liability and indemnity
This variation specifies the trustee's liability and indemnification in case of claims or damages.
The Trustee shall not be liable for any loss, damages, or claims arising from their management of the trust unless caused by gross negligence, willful misconduct, or breach of fiduciary duty. The Trustee shall be indemnified by the trust for any legal expenses or liabilities incurred while performing duties under this Agreement, provided the Trustee acted in good faith.
Trustee clause for appointment of a substitute trustee
This variation applies when the appointment of a substitute trustee is needed.
In the event that the Trustee becomes unwilling or unable to perform their duties, a substitute Trustee shall be appointed by [specify the appointing body]. The substitute Trustee shall assume all duties, rights, and responsibilities under this Agreement as if they were the original Trustee.
Trustee clause for beneficiary notifications
This variation applies when the trustee is obligated to notify beneficiaries.
The Trustee shall provide written notice to all beneficiaries regarding the status of the trust assets at least once a year, or as otherwise requested by the beneficiaries. Such notifications shall include a summary of financial activities, distributions, and any other material developments affecting the trust.
Trustee clause for trustee’s investment strategy
This variation applies when the trustee has a defined investment strategy to follow.
The Trustee is authorized to invest the trust assets in a manner consistent with the investment strategy outlined in this Agreement. The Trustee shall prioritize the preservation of capital and returns that align with the risk tolerance and goals of the beneficiaries, as specified in the trust’s guidelines.
Trustee clause for trustee’s powers to borrow funds
This variation allows the trustee to borrow funds on behalf of the trust.
The Trustee shall have the authority to borrow funds on behalf of the trust, provided that such borrowing is necessary for the administration of the trust and is done in the best interests of the beneficiaries. Any borrowing shall be repaid from trust assets, and the Trustee shall report such actions to the beneficiaries.
Trustee clause for trustee’s responsibilities to provide accounting
This variation applies when the trustee is responsible for providing regular accounting.
The Trustee shall maintain accurate records of all transactions related to the trust and shall provide a detailed accounting to the beneficiaries at least annually. The accounting shall include a balance sheet, income statement, and a summary of trust activities during the reporting period.
Trustee clause for trustee’s confidentiality obligations
This variation applies to the trustee’s duty of confidentiality regarding trust matters.
The Trustee agrees to maintain the confidentiality of all trust-related information, including but not limited to financial records, beneficiary details, and any proprietary information. The Trustee shall not disclose such information to any third party without prior written consent from the beneficiaries, unless required by law.
Trustee clause for the trustee’s authority to execute documents
This variation applies when the trustee has authority to execute documents related to the trust.
The Trustee is authorized to sign, execute, and deliver any and all documents necessary to carry out the provisions of this Agreement, including contracts, investments, and legal filings. The Trustee shall act in accordance with the trust’s terms and in the best interests of the beneficiaries when executing such documents.
Trustee clause for trustee’s duties upon the termination of the trust
This variation applies to the trustee’s duties upon the trust’s termination.
Upon the termination of the trust, the Trustee shall be responsible for distributing the remaining trust assets to the beneficiaries in accordance with the provisions of this Agreement. The Trustee shall ensure that all debts, taxes, and expenses of the trust are paid before making final distributions.
Trustee clause for trustee’s powers to hire professionals
This variation applies when the trustee is allowed to hire professionals for assistance.
The Trustee is authorized to hire and retain professionals, such as attorneys, accountants, or investment advisors, as needed to assist in the administration of the trust. The Trustee shall ensure that the professionals act in accordance with the trust’s goals and fiduciary obligations, and any fees incurred will be paid from trust assets.
Trustee clause for trustee’s powers to settle disputes
This variation applies when the trustee is authorized to settle disputes involving the trust.
The Trustee shall have the authority to resolve disputes among beneficiaries or third parties concerning the administration of the trust. The Trustee may, at their discretion, mediate or settle such disputes, provided that such actions are in the best interests of the beneficiaries and in compliance with the terms of this Agreement.
Trustee clause for successor trustee’s appointment process
This variation applies when a process for appointing a successor trustee is outlined.
If the Trustee is unable or unwilling to perform their duties, a successor Trustee shall be appointed by [specify the body or process, e.g., the remaining trustees, a court, or a committee of beneficiaries]. The successor Trustee shall assume all responsibilities of the Trustee under this Agreement.
Trustee clause for trustee’s ability to reinvest trust income
This variation applies when the trustee has the authority to reinvest income generated by the trust.
The Trustee is authorized to reinvest any income generated by the trust assets, including interest, dividends, or capital gains, in a manner that aligns with the objectives of the trust. Any reinvestment decisions must be made with the goal of maximizing long-term returns for the beneficiaries.
Trustee clause for trustee’s review of beneficiary claims
This variation applies when the trustee is required to review claims from beneficiaries.
The Trustee shall review any claims made by beneficiaries regarding distributions, asset allocations, or other matters related to the trust. The Trustee shall evaluate each claim and, if deemed valid, take appropriate action to resolve the issue in accordance with the trust’s terms.
Trustee clause for trustee’s powers in the event of bankruptcy
This variation applies to the trustee’s powers if the trust or its assets face bankruptcy.
If the trust or any part of its assets becomes subject to bankruptcy proceedings, the Trustee shall have the authority to take any necessary action to protect the interests of the beneficiaries. This includes filing claims, participating in the bankruptcy process, and making decisions on the disposition of trust assets.
Trustee clause for trustee’s authority to manage distributions
This variation applies to the trustee’s authority over distributions to beneficiaries.
The Trustee is responsible for managing and making distributions from the trust in accordance with the terms of this Agreement. Distributions shall be made at the Trustee’s discretion, based on the trust’s terms, the needs of the beneficiaries, and the financial health of the trust.
Trustee clause for trustee’s indemnification by the trust
This variation applies when the trust indemnifies the trustee for actions taken in good faith.
The Trustee shall be indemnified by the trust for any actions taken in good faith while carrying out their duties under this Agreement. The trust shall cover any legal costs, damages, or claims incurred by the Trustee, except in cases of willful misconduct or gross negligence.
Trustee clause for trustee’s duties upon the death of a beneficiary
This variation applies when the death of a beneficiary affects the trust.
In the event of the death of a beneficiary, the Trustee shall ensure that the beneficiary’s share of the trust is distributed according to the terms of this Agreement or the beneficiary’s estate plan. The Trustee shall also notify the remaining beneficiaries and make the necessary adjustments to the trust’s administration.
Trustee clause for trustee’s ability to manage real property
This variation applies when the trustee is tasked with managing real property held in trust.
The Trustee shall have the authority to manage, lease, sell, or otherwise deal with any real property held in the trust in accordance with the provisions of this Agreement. The Trustee shall act prudently in maintaining the property and ensuring that any transactions related to the property are conducted in the best interests of the beneficiaries.
Trustee clause for delegation of powers
This variation applies when the trustee is allowed to delegate certain powers to others.
The Trustee is authorized to delegate any of their duties under this Agreement to third-party agents, professionals, or advisors as deemed necessary. However, the Trustee remains fully responsible for ensuring that any delegation is in line with the best interests of the beneficiaries and the terms of this Agreement.
Trustee clause for trustee's role in dispute resolution
This variation applies when the trustee is expected to handle disputes.
The Trustee shall act as a mediator in the event of any disputes between the beneficiaries or between a beneficiary and the trust. The Trustee will attempt to resolve such disputes amicably and in a manner that is in accordance with the terms of this Agreement and the best interests of the beneficiaries.
Trustee clause for trustee's oversight of trust investments
This variation applies to the trustee's oversight duties regarding trust investments.
The Trustee is responsible for overseeing the trust's investments, ensuring that each investment aligns with the trust's risk profile and objectives. The Trustee may adjust the investment portfolio as necessary, subject to the trust's guidelines, and must provide the beneficiaries with periodic updates on the performance of the investments.
Trustee clause for trustee's disclosure obligations
This variation applies when the trustee has an obligation to disclose information to the beneficiaries.
The Trustee agrees to provide the beneficiaries with detailed and accurate reports on the management of the trust's assets, including any changes in the trust's portfolio, distributions, and any significant developments that could affect the trust's operation. These reports shall be provided on a [quarterly/annual] basis.
Trustee clause for trustee’s bond requirement
This variation applies when the trustee is required to provide a bond.
The Trustee shall be required to post a bond as security for the faithful performance of their duties under this Agreement. The bond amount will be determined by [insert party or body responsible], and the bond must be maintained throughout the duration of the Trustee's administration of the trust.
Trustee clause for trustee's liability for breach of fiduciary duty
This variation applies when the trustee is held liable for breaches of fiduciary duty.
The Trustee shall be held personally liable for any breach of fiduciary duty, including failure to act in the best interests of the beneficiaries, negligence, or fraud. In the event of such a breach, the Trustee shall be responsible for any damages, legal costs, and penalties arising from the breach.
Trustee clause for successor trustee appointment process
This variation applies to the process of appointing a successor trustee.
If the Trustee becomes incapacitated, unwilling, or unable to perform their duties, a successor Trustee will be appointed by [the responsible party]. The successor Trustee will assume all responsibilities under this Agreement, and the outgoing Trustee will ensure a smooth transition by providing all necessary records and documentation.
Trustee clause for trustee’s authority over trust property
This variation applies when the trustee is granted authority over the trust’s property.
The Trustee is granted full authority to manage and control the trust property, including real estate, financial assets, and any other property held by the trust. The Trustee shall have the right to sell, lease, or transfer property as necessary to fulfill the terms of this Agreement, provided that all decisions are made in the best interests of the beneficiaries.
Trustee clause for trustee's power to make tax decisions
This variation applies when the trustee is empowered to make decisions related to taxes.
The Trustee shall have the authority to make decisions regarding the payment of taxes, including filing returns and making payments on behalf of the trust. The Trustee is responsible for ensuring that all tax obligations are met in accordance with applicable laws and that the tax treatment of trust assets is appropriate.
Trustee clause for trustee’s duty to maintain records
This variation applies when the trustee is responsible for record-keeping.
The Trustee is responsible for maintaining accurate and complete records of all transactions, distributions, and investments made under this Agreement. These records shall be available for review by the beneficiaries upon request and shall be retained for the duration of the trust’s existence.
Trustee clause for trustee’s responsibility for administrative costs
This variation applies when the trustee is responsible for administrative costs.
The Trustee is responsible for paying all administrative costs associated with the management of the trust, including legal fees, accounting fees, and other necessary expenses. These costs will be paid from the trust assets, and the Trustee shall provide the beneficiaries with a detailed breakdown of expenses.
Trustee clause for trustee’s role in asset distribution
This variation applies when the trustee is responsible for distributing assets.
The Trustee shall distribute the trust assets to the beneficiaries in accordance with the terms of this Agreement. The Trustee has discretion over the timing and amount of distributions, but all actions must be consistent with the best interests of the beneficiaries and the terms of the trust.
Trustee clause for trustee's right to retain counsel
This variation applies when the trustee is authorized to retain legal counsel.
The Trustee is authorized to retain legal counsel to assist with the administration of the trust. The legal costs incurred by the Trustee in the course of fulfilling their duties shall be paid from the trust assets, and the Trustee must inform the beneficiaries of any material legal matters affecting the trust.
Trustee clause for trustee’s indemnity from personal liability
This variation applies when the trustee is indemnified for personal liability.
The Trustee shall be indemnified and held harmless from any personal liability arising from actions taken in good faith in the administration of the trust, except in cases of gross negligence, fraud, or breach of fiduciary duty. The trust will cover the costs of defending the Trustee against any claims made in relation to their duties under this Agreement.
Trustee clause for trustee’s approval of trust amendments
This variation applies when the trustee must approve amendments to the trust.
Any amendments to this Agreement must be approved by the Trustee, provided that such amendments do not conflict with the primary objectives of the trust or the best interests of the beneficiaries. The Trustee’s approval will be based on the fairness and reasonableness of the amendments, and such approval shall not be unreasonably withheld.
Trustee clause for trustee’s power to terminate the trust
This variation applies when the trustee has the power to terminate the trust.
The Trustee shall have the authority to terminate the trust if it is determined that continuing the trust is no longer in the best interests of the beneficiaries or if the trust’s purpose has been fulfilled. Upon termination, the Trustee shall distribute the remaining assets to the beneficiaries in accordance with the terms of this Agreement.
Trustee clause for trustee’s conflict of interest disclosure
This variation applies when the trustee must disclose conflicts of interest.
The Trustee shall disclose any potential conflicts of interest that may arise during the administration of the trust. In the event of a conflict, the Trustee shall abstain from making any decisions that may be influenced by the conflict and shall act in the best interests of the beneficiaries.
Trustee clause for trustee’s authority to settle claims
This variation applies when the trustee is authorized to settle claims on behalf of the trust.
The Trustee shall have the authority to settle any claims, disputes, or legal actions involving the trust, provided that such settlements are in the best interests of the beneficiaries and do not compromise the integrity of the trust. The Trustee must inform the beneficiaries of any material settlements.
Trustee clause for trustee’s right to retain compensation
This variation applies when the trustee retains compensation for their services.
The Trustee shall be entitled to reasonable compensation for their services, as agreed upon by the parties involved or as determined by prevailing industry standards. The compensation shall be paid from the trust assets and is subject to the approval of the beneficiaries.
Trustee clause for trustee’s authority to transfer assets
This variation applies when the trustee has the authority to transfer trust assets.
The Trustee is authorized to transfer any of the trust’s assets to other entities, beneficiaries, or accounts as necessary for the proper administration of the trust. Such transfers must comply with the terms of this Agreement and be conducted in the best interests of the beneficiaries.
Trustee clause for trustee’s authority to buy assets
This variation applies when the trustee is permitted to buy assets for the trust.
The Trustee shall have the power to purchase assets on behalf of the trust, including stocks, bonds, real property, or any other investments deemed appropriate for the trust’s objectives. Any such purchases shall be made in accordance with the terms of this Agreement and in the best interest of the beneficiaries.
Trustee clause for trustee’s powers in the event of insolvency
This variation applies when the trustee’s powers are defined in case of insolvency.
In the event that the trust or any part of the trust’s assets becomes insolvent, the Trustee shall have the authority to take necessary actions to preserve and protect the trust’s assets, including negotiating with creditors, restructuring the trust’s liabilities, and making decisions regarding asset liquidation.
Trustee clause for trustee’s responsibility for trust reporting
This variation applies to the trustee’s responsibility for financial reporting.
The Trustee is responsible for providing an annual report to the beneficiaries detailing the financial status of the trust, including income, expenditures, investments, and any changes in the trust’s assets or liabilities. Such reports must be provided in a timely manner and in accordance with the provisions of this Agreement.
Trustee clause for trustee’s involvement in beneficiary distributions
This variation applies to the trustee’s responsibility for managing beneficiary distributions.
The Trustee shall distribute trust assets to the beneficiaries in accordance with the terms of this Agreement. The Trustee has discretion over the timing and amount of distributions, provided that such decisions align with the trust’s objectives and do not harm the interests of other beneficiaries.
Trustee clause for trustee’s ability to approve trust amendments
This variation applies to when the trustee is responsible for approving changes to the trust.
The Trustee shall approve any amendments to this Agreement, provided that such amendments are consistent with the purpose of the trust and the best interests of the beneficiaries. The Trustee must ensure that the amendments are fair and do not undermine the trust’s objectives.
Trustee clause for trustee’s right to obtain advice
This variation applies when the trustee is allowed to seek professional advice.
The Trustee is entitled to seek advice from legal, financial, or other professional advisors as needed to fulfill their duties under this Agreement. The costs of such advice shall be paid from the trust assets, and the Trustee must ensure that the advice is in the best interest of the beneficiaries.
Trustee clause for trustee’s responsibility for asset valuation
This variation applies when the trustee is responsible for valuing assets in the trust.
The Trustee shall ensure that all assets held in the trust are accurately valued on a regular basis. Any asset valuations performed by the Trustee must be based on market conditions and be reflective of the true value of the assets as of the relevant date.
Trustee clause for trustee’s indemnification in legal matters
This variation applies when the trustee is indemnified for legal matters.
The Trustee shall be indemnified by the trust for any reasonable legal costs incurred as a result of their actions in good faith under this Agreement, except in cases of gross negligence or willful misconduct. The indemnification shall cover any claims, settlements, or legal proceedings brought against the Trustee related to their duties.
Trustee clause for trustee’s obligations in case of a beneficiary's incapacity
This variation applies when a beneficiary becomes incapacitated.
In the event that any beneficiary becomes incapacitated, the Trustee shall act in accordance with the instructions provided in the beneficiary’s estate plan or legal directives. If no such instructions are available, the Trustee shall make decisions that are in the best interests of the incapacitated beneficiary, taking into account the trust’s objectives.
Trustee clause for trustee’s right to sue for breach of the trust
This variation applies when the trustee has the right to take legal action for breach of trust.
The Trustee has the authority to bring legal action against any party that breaches the terms of this Agreement or engages in actions that harm the trust’s assets. The Trustee shall take appropriate steps to protect the interests of the beneficiaries and the trust when such breaches are identified.
Trustee clause for trustee’s authority to sell assets
This variation applies when the trustee has the power to sell assets from the trust.
The Trustee is authorized to sell any assets held by the trust, including real property, stocks, or other investments, provided such sales are in the best interests of the beneficiaries and comply with the terms of this Agreement. The Trustee must ensure that the sale price is fair and that the sale benefits the trust.
Trustee clause for trustee’s power to make loans
This variation applies when the trustee is authorized to make loans on behalf of the trust.
The Trustee shall have the authority to make loans to third parties on behalf of the trust, provided that such loans are made in accordance with the terms of this Agreement and the best interests of the beneficiaries. The Trustee shall ensure that any loans are adequately secured and that the terms are favorable to the trust.
Trustee clause for trustee’s authority to accept donations
This variation applies when the trustee has the authority to accept donations.
The Trustee is authorized to accept donations or gifts to the trust, provided that such donations are in line with the trust’s purpose and objectives. Any donations accepted must comply with the provisions of this Agreement, and the Trustee must ensure that they do not conflict with the interests of the beneficiaries.
Trustee clause for trustee’s duty to act impartially
This variation applies when the trustee must act impartially.
The Trustee shall act impartially and fairly with respect to all beneficiaries. The Trustee shall not favor one beneficiary over another and must ensure that all decisions are made with consideration for the collective interests of all parties involved, in accordance with the terms of this Agreement.
Trustee clause for trustee’s right to modify investment strategy
This variation applies when the trustee has the right to change the investment strategy.
The Trustee shall have the authority to modify the investment strategy for the trust, provided that such modifications are consistent with the objectives and terms of this Agreement. The Trustee must ensure that any changes to the investment strategy are made in the best interests of the beneficiaries.
Trustee clause for trustee’s power to manage trust income
This variation applies when the trustee has the authority to manage income generated by the trust.
The Trustee shall manage and distribute any income generated by the trust’s assets in accordance with the terms of this Agreement. The Trustee may reinvest income or distribute it to the beneficiaries as needed to fulfill the objectives of the trust.
Trustee clause for trustee’s responsibility for trust administration
This variation applies when the trustee is responsible for overseeing trust administration.
The Trustee is responsible for the overall administration of the trust, including overseeing the investment, distribution, and management of the trust’s assets. The Trustee must ensure that all activities are in compliance with the terms of this Agreement and are conducted in the best interests of the beneficiaries.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.