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Synopsis
The Trustee Act 2000 implements the recommendations contained in the recent Law Commission report on trustees' powers and duties and introduces a number of highly significant changes in this area.
The Act gives trustees a range of new powers in order to modernise and improve the way in which trusts are administered. These include: wider statutory powers of investment, replacing the limited powers in the Trustee Investments Act 1961; the power to acquire land for any purpose and to insure trust property; powers to delegate their functions, appoint agents, nominees and custodians and to pay professional trustees.
These enhanced powers will be counterbalanced by a new safeguard for beneficiaries in the form of a statutory duty of care for trustees.
Written by two barristers from a leading chancery law set, this timely book provides a thorough explanation of the impact of these important changes in practice and highlights the key differences between the old and new regimes. The practical nature of the text is enhanced by the inclusion of sample clauses to illustrate drafting tips.
As such, all private client lawyers, trust litigators and anyone involved in the administration of trusts, including charitable trusts, will find this essential reading.
"synopsis" may belong to another edition of this title.
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