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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| Published in | Trusts & trustees Vol. 29; no. 5; pp. 389 - 392 |
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| Main Author | |
| Format | Journal Article Book Review |
| Language | English |
| Published |
Oxford
Oxford University Press
28.06.2023
Oxford Publishing Limited (England) |
| Subjects | |
| Online Access | Get full text |
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| Abstract | 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. |
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| AbstractList | 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. 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. |
| Audience | Professional |
| Author | Hayton, David |
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| Copyright | The Author(s) (2023). Published by Oxford University Press. All rights reserved. 2023 COPYRIGHT 2023 Oxford University Press The Author(s) (2023). Published by Oxford University Press. All rights reserved. |
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| DOI | 10.1093/tandt/ttad019 |
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| Snippet | 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... 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... |
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| SubjectTerms | 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 |
| Title | Trustees’ duties: exemptions and exonerations |
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