14 - Duties and Powers of Trustees

Source - Unlocking Trusts

This is another important chapter. The answer to question No. 6 of the sample questions given by Kaplan lies here. Following is the summary of this chapter:

 

1) General Duties of Trustees - (a) Common law duties (b) Duty under Trustee Act 2000  - see the subjective test and objective test

2) Duty to act unanimously

 

3) Duty to act personally - (a) Delegation is possble subject to exception under part IV of the Trustees Act 2000 [s 11(1) and 11(3)] (b) s 25 of Trustee Act 1925 as amended by Trustee Delegation Act 1999 which individual delegation by PoA (c) s 9 of TOLATA which permits delegation by PoA to beneficiaries in respect of land

4) Exclusion clauses

 

5) Duty of provide acccounts and information

6) Duty to distribute to the correct beneficiaries 

 

7) Duty not to make profits from the trust

8) Powers of investment - (a) express power (b) statutory power u/s 3 of Trustees Act (note about investment powers; they can invest in land only in the UK)

 

9) The right of beneficiaries to occupy land

10) Power of maintenance and advancement - (a) Express power (b) Inherent power (to be exercised by court) (c) Statutory power (can be exercised by Trustees)

 

11) Power to give receipt

12) Power to partition land