Which of the following statements about a trustee is NOT true?
A)The liability of a trustee is unlimited unless a company is appointed to operate the business of the trust.
B)Any person capable of holding the title to property is capable of being a trustee.
C)The trustee is responsible for all losses on trust investments.
D)The trustee is entitled to full indemnity out of the trust property for their expenses and costs.

Question

Quizplus · Accepted Answer

The trustee is not necessarily responsible for all losses on trust investments. The extent of the trustee's liability depends on the terms of the trust instrument and the trustee's actions. Some trusts may limit the trustee's liability or require the trustee to act with a certain level of care and skill in managing trust investments.

Which of the Following Statements About a Trustee Is NOT