The relationship of trustees to beneficiaries is viewed as fiduciary, meaning there are certain equitable principles which prevent trustees from abusing their position; for example, they must always act in utmost good faith in the interests of the beneficiaries and are expected to act selflessly (e.g. they cannot make unauthorised personal gains) and with undivided loyalty (i.e. they should avoid conflicts of interest).
Our training seminar looks at the following topics:
- Sources of Trustees' Duties/Responsibilities
- Core Statutory Trustees' Duties
- Other Principal Statutory Trustees' Duties
- Delegation of Powers
- Duties upon Accepting Trusteeships and Transfer of Trusteeships
We have recently provided training to trust companies located outside of Jersey but administering Jersey trusts. If you would be interested in receiving training or refresher training on this important area of trusteeships, please do get in contact with David Dorgan.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
