Trustee Power To Invest
Description
How to fill out Power Of Attorney By Trustee Of Trust?
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FAQ
The trustee of an irrevocable trust can only withdraw money to use for the benefit of the trust ing to terms set by the grantor, like disbursing income to beneficiaries or paying maintenance costs, and never for personal use.
Is it your Trustee's duty to invest and manage Trust assets? The short answer is yes! If the Trust administered is in California, the Trustee must comply with the Uniform Prudent Investor Act when investing and managing Trust assets.
Under the rule a Trustee must invest and manage Trust assets as a prudent investor would by considering the purposes, terms, distribution requirements, and other circumstances of the Trust. And the Trustee must use reasonable care, skill, and caution in making Trust investments (Probate Code Section 16047).
Most modern trusts give trustees wide investment powers allowing them to invest in any type of investment. They still have to take into account the goals of the trust and what is considered prudent. This will include investments in life assurance products, unit trusts, OEICs, shares, deposits and property.
Stocks and bonds can be transferred from the trust into the beneficiary's brokerage accounts. Beneficiaries typically have to pay taxes on trust income, except for distributions from the trust's principle.