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2019•Unpublished venueRequires access

Fiduciary Principles in Trust Law

Robert H. Sitkoff

Open publisher page 5 citations

Abstract

This chapter canvasses the fiduciary principles applicable to a trustee of a donative, irrevocable private trust. The focus is on American law. The chapter examines: (1) the trigger for finding a trust fiduciary relationship and the scope of that relationship; (2) the duty of loyalty; (3) the duty of prudence across the distribution, investment, custodial, and administrative functions of trusteeship; (4) other fiduciary duties in trust law, including the prominent duty of impartiality and the increasingly salient duty to give information to the beneficiaries; (5) the extent to which fiduciary principles in trust law are mandatory or may be waived by the settlor or by a beneficiary; and (6) the remedies available for a breach of duty by a trustee.

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What this paper is about

This chapter canvasses the fiduciary principles applicable to a trustee of a donative, irrevocable private trust. The focus is on American law. The chapter examines: (1) the trigger for finding a trust fiduciary relationship and the scope of that relationship; (2) the duty of loyalty; (3) the duty of prudence across the distribution, investment, custodial, and administrative functions of trusteeship; (4) other fiduciary duties in trust law, including the prominent duty of impartiality and the increasingly salient duty to give information to the beneficiaries; (5) the extent to which fiduciary principles in trust law are mandatory or may be waived by the settlor or by a beneficiary; and (6) the remedies available for a breach of duty by a trustee.

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OpenAlex reports 5 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

This chapter canvasses the fiduciary principles applicable to a trustee of a donative, irrevocable private trust. The focus is on American law. The chapter examines: (1) the trigger for finding a trust fiduciary relationship and the scope of that relationship; (2) the duty of loyalty; (3) the duty of prudence across the distribution, investment, custodial, and administrative functions of trusteeship; (4) other fiduciary duties in trust law, including the prominent duty of impartiality and the increasingly salient duty to give information to the beneficiaries; (5) the extent to which fiduciary principles in trust law are mandatory or may be waived by the settlor or by a beneficiary; and (6) the remedies available for a breach of duty by a trustee.

Key concepts: Fiduciary, Trust law, Settlor, Duty of loyalty, Duty, Impartiality, Beneficiary, Law

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