Trustees’ duties: exemptions and exonerations

Abstract As part of the bargain for undertaking a trusteeship, a trustee can exempt itself not only from liability for a breach of trust, it can altogether oust particular trusteeship duties, so long as it leaves intact the irreducible core obligations of a trust. Where a trustee is to hold underlyi...

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Bibliographic Details
Published inTrusts & trustees Vol. 29; no. 5; pp. 389 - 392
Main Author Hayton, David
Format Journal Article Book Review
LanguageEnglish
Published Oxford Oxford University Press 28.06.2023
Oxford Publishing Limited (England)
Subjects
Analysis
Beneficiaries
Breach of trust
Burden of proof
Compromise and settlement
Consent (Law)
Deeds of trust
Ethical aspects
Exemption (Law)
Exoneration
Honesty
Insurance
Interpretation and construction
Laws, regulations and rules
Liability insurance
Negligence
Remedies
Trusts and trustees
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Summary:Abstract As part of the bargain for undertaking a trusteeship, a trustee can exempt itself not only from liability for a breach of trust, it can altogether oust particular trusteeship duties, so long as it leaves intact the irreducible core obligations of a trust. Where a trustee is to hold underlying controlled companies, the trustee’s duties of supervision and inquiry can be specifically ousted so long as the trustee has no actual or blind-eye knowledge of dishonest conduct in the affairs of such companies. Low insurance premiums lead to low trustees’ fees.
ISSN:1363-1780
1752-2110
DOI:10.1093/tandt/ttad019