Commentary

24 The exercise of dispositive powers by trustees

POWERS OF APPOINTMENT vol 33
| Commentary

24 The exercise of dispositive powers by trustees

| Commentary

F: INVALID EXERCISE OF A POWER

24 The exercise of dispositive powers by trustees

When exercising dispositive powers trustees ‘must act in good faith, responsibly and reasonably ... [and] must inform themselves, before making a decision, of matters which are relevant to the decision’1. This requires the trustee to make ‘such a survey of the range of objects or possible beneficiaries’ as will enable him to carry out his fiduciary duties2. A trustee must find out the ‘permissible area of selection and then consider responsibly, in individual cases, whether a contemplated beneficiary was within the power

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial