Trustees duties in administering the d of a, Financial Accounting

Trustee's duties in administering the D of A

1) To carry out the trusts of the D of A and to distribute the property assigned to him in accordance with the provisions of the D of A.

2) To pay all creditors equally unless the D of A gives priority to those debts which would be preferential in bankruptcy (as it usually will)?

Note that since the B.A does not apply to the D of A, rules such as those relating to disclaimer of onerous property, reputed ownership and voidable settlements are inapplicable.

Posted Date: 12/13/2012 1:37:52 AM | Location : United States

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