To observe terms of trust-trusts laws and accounts, Financial Accounting

To observe terms of trust
 
Trustees must comply with the trust instrument and the rules of equity; they need not consult the beneficiaries or take instructions from them; but they may not depart from the terms of the trust unless authorised by the court, either:
 
1. Where a particular transaction is expedient for the trust as a whole, but the trustees have no power to effect it S.56; or

2. Under the Trustee Act, which empowers the Court to sanction any agreement for varying or revoking all or any of the trusts, or enlarging the management and administration powers of trustees on behalf of beneficiaries who are, as yet, unascertained or who are under a disability such as infancy.

Posted Date: 12/15/2012 12:12:50 AM | Location : United States







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