There is considerable uncertainty as to what are or indeed should be the rules governing both the imposition of a personal liability to account on persons who have assisted in bringing about a disposition of trust property in breach of trust and the imposition of constructive trusts on recipients of property disposed of in breach of trust."
(Oakley)
Discuss.
2007-07-12 06:00:30 · 3 answers · asked by mc 1 in Education & Reference ➔ Quotations
Did you know that lawyers were paid by the word in the past? That's why their so incomprehensibly verbose. They should have a motto, something like: eschew obfuscation.
2007-07-12 06:47:55 · answer #1 · answered by Elaine P...is for Poetry 7 · 1⤊ 0⤋
Yikes. Better see a lawyer. Basically, what it is discussing is whether or not a trust fiduciary should be held personally liable for mismanagement of trust assets. In other words, if the trust officer screws up an investment, should the officer have to reimburse the trust out of the officer's personal funds?
2007-07-12 16:14:02 · answer #2 · answered by trail guy 2 · 0⤊ 0⤋
simple thought, if the ultimate beneficiaries of the trust are managing the trust for an older person there is always the temptation to put the trust money in a fund that will pay just a little for the beginning and later the big pay out so if you can do check out the temptation factor. just something I realized over the years.
2007-07-14 14:01:11 · answer #3 · answered by almajoy64 2 · 0⤊ 0⤋