הטקסט המלא של מדריך זה באנגלית; התקציר שלמעלה בשפתכם. תקצירי החוקים והנוסח האנגלי נשארים המקור המחייב.
The office · 5 דק' קריאה
What may be delegated, and the care owed
G.L. c. 203E, § 807(a) provides that a trustee may delegate duties and powers if it is prudent to do so, exercising reasonable care, skill and caution in selecting an agent, in establishing the scope and terms of the delegation consistent with the purposes and terms of the trust, and in periodically reviewing the agent's actions to monitor the agent's performance and compliance with the terms of the delegation. In performing a delegated function, the agent owes the trust a duty to exercise reasonable care to comply with the terms of the delegation (§ 807(b)); a trustee who complies with subsection (a) is not liable to the beneficiaries or to the trust for an action of the agent (§ 807(c)); and an agent who accepts a delegation from the trustee of a trust subject to the laws of the commonwealth submits to the jurisdiction of its courts (§ 807(d)). Investment and management functions are delegated on the same terms under the Massachusetts Prudent Investor Act (G.L. c. 203C, § 10).
Paying for professional help
Among the trustee's specific powers is the power to pay taxes, assessments, the compensation of the trustee and of employees and agents of the trust, and other expenses incurred in the administration of the trust (G.L. c. 203E, § 816(15)); the general powers add, except as the terms limit them, any other powers appropriate to achieve the proper investment, management and distribution of the trust property (§ 815(a)(2)(ii)), all subject to the fiduciary duties (§ 815(b)). A trustee incurs only costs that are appropriate and reasonable in relation to the trust property, the purposes of the trust and the skills of the trustee (§ 805), and is reimbursed for expenses properly incurred in the administration (§ 709). A transaction involving the investment or management of trust property that the trustee enters into with an agent or attorney of the trustee is presumed to be affected by a conflict between personal and fiduciary interests (§ 802(c)(3)).
Powers to direct held by others under the instrument
Where the terms of a trust confer on a person other than the settlor of a revocable trust a power to direct certain actions of the trustee, G.L. c. 203E, § 808(b) provides that the trustee acts in accordance with an exercise of the power, unless the attempted exercise is manifestly contrary to the terms of the trust or the trustee knows it would constitute a serious breach of a fiduciary duty the holder owes to the beneficiaries. The holder of a power to direct is presumptively a fiduciary required to act in good faith with regard to the purposes of the trust and the interests of the beneficiaries, and is liable for any loss that results from a breach of a fiduciary duty (§ 808(c)); while a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust (§ 808(a)). Massachusetts has no separate directed trust act; how a particular instrument divides the work is a question for a licensed Massachusetts attorney of your choosing.
החוקים, מילה במילה
Delegation of investment and management functions
G.L. c. 203C, § 10 ↗הסבר ברור ופשוט; נוסח החוק המילולי טרם אושר בספרייה שלנו. ראו את החוק הרשמי בקישור למעלה.
Delegation by trustee
G.L. c. 203E, § 807 ↗הסבר ברור ופשוט; נוסח החוק המילולי טרם אושר בספרייה שלנו. ראו את החוק הרשמי בקישור למעלה.
Powers to direct
G.L. c. 203E, § 808 ↗הסבר ברור ופשוט; נוסח החוק המילולי טרם אושר בספרייה שלנו. ראו את החוק הרשמי בקישור למעלה.
Specific powers of trustee
G.L. c. 203E, § 816 ↗הסבר ברור ופשוט; נוסח החוק המילולי טרם אושר בספרייה שלנו. ראו את החוק הרשמי בקישור למעלה.
שאלות נפוצות
Can a Massachusetts trustee hire an accountant or attorney?
The statute lets a trustee delegate duties and powers where it is prudent to do so (G.L. c. 203E, § 807(a)) and pay the compensation of employees and agents of the trust and other expenses incurred in the administration (§ 816(15)), incurring only costs appropriate and reasonable in relation to the trust property, its purposes and the trustee's skills (§ 805).
Is a Massachusetts trustee liable for an agent's mistake?
A trustee who exercised reasonable care, skill and caution in selecting the agent, establishing the scope and terms of the delegation and periodically reviewing the agent's actions is not liable to the beneficiaries or the trust for the agent's action (G.L. c. 203E, § 807(c)) — or, for investment and management functions, for the agent's decisions or actions (G.L. c. 203C, § 10(c)).
What is a power to direct in Massachusetts?
A power the terms of a trust confer on a person other than the settlor of a revocable trust to direct certain actions of the trustee; the trustee acts on its exercise unless it is manifestly contrary to the terms or the trustee knows it would be a serious breach of the holder's fiduciary duty, and the holder is presumptively a fiduciary (G.L. c. 203E, § 808(b), (c)).
קריאה קשורה
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