There is a fiduciary relationship between a trustee and a beneficiary. Explain what this means and describe the duties imposed by such a relationship.
There is a fiduciary relationship between a trustee and a beneficiary. Explain what this means and describe the duties imposed by such a relationship.
4.2 In 2005, Settlor creates a discretionary trust in favour of a defined class of beneficiaries that comprises current and future members of his family, and transfers the following assets to Trustee to hold upon the terms of such trust:
(a) a villa situated in California valued at $2 million; and
(b) a portfolio of stocks issued by banking and lending institutions worth $3 million.
When the US housing bubble burst the value of the villa fell to $750,000 and, in the financial crisis that followed, the value of the shares fell to $1 million. Analyse the liability, if any, of Trustee for the loss suffered by the trust fund in these circumstances.
Collepals.com Plagiarism Free Papers
Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Get ZERO PLAGIARISM, HUMAN WRITTEN ESSAYS
Why Hire Collepals.com writers to do your paper?
Quality- We are experienced and have access to ample research materials.
We write plagiarism Free Content
Confidential- We never share or sell your personal information to third parties.
Support-Chat with us today! We are always waiting to answer all your questions.