The trustee named has a duty to serve as trustee if which of the following is TRUE?

The trustee named has a duty to serve as trustee if which of the following is TRUE?

• A. The trustee accepts trusteeship
• B. The trustee is named in the document
• C. The trustee accepts compensation
• D. The trustee is a corporate trustee

Answer: (D)

Fiduciary duties to serve as a trustee come from the trustee’s capacity and the ability to take on the role. For an individual, simply being named in the trust does not automatically create duties until they formally accept the trusteeship; acceptance is what brings the responsibility to act. Accepting compensation does not by itself create the obligation to serve. A corporate trustee, however, is an entity built to administer trusts and to fulfill the trustee role when appointed, so being a corporate trustee establishes the duty to serve by virtue of its institutional capacity.

Fiduciary duties to serve as a trustee come from the trustee’s capacity and the ability to take on the role. For an individual, simply being named in the trust does not automatically create duties until they formally accept the trusteeship; acceptance is what brings the responsibility to act. Accepting compensation does not by itself create the obligation to serve. A corporate trustee, however, is an entity built to administer trusts and to fulfill the trustee role when appointed, so being a corporate trustee establishes the duty to serve by virtue of its institutional capacity.