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trustees' duties when running a trust, duty to act personally and…
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duty to act personally and unanimously
- each trustee (co-trustee) must take measures to take control of trust property
to act personally
- ts must act personally- personally active in running trust
- apart from stat powers to delegate e.g. apppoint attorney, ts cannot sit back and allow others to take decisions on their behalf (e.g. experts-legal, financial)
- a passive trustee (leaves other co-ts to deal with trust, trust funds in one co-trustees hands, fails to monitor other ts conduct, fails to take action over breaching t) may be liable to make good any loss that the bs suffer
to act unanimously
- 2-4 trustees normally
- co-ts usually take deciisons unanimously (unless trust says otherwise)- safeguard