The Trustee’s Duty of Loyalty to Beneficiaries
The beneficiaries of the trust are those who enjoy the benefit of a trust’s assets. Beneficiaries may include the spouse, children, associates or other family members of the creator of the trust. Non-profit organizations, religious institutions and other charitable entities as well as businesses may also be beneficiaries. The Trustee has certain duties to all the beneficiaries of the trust, which may become more complicated when there are different classes of beneficiaries or when the trustee is also a beneficiary. One very important duty is the duty of loyalty to the trust’s beneficiaries.
