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NEW QUESTION: 1
When a trustee for private investment funds has responsibility toward current beneficiaries who are income oriented and future beneficiaries ("remaindermen") who are capital growth oriented, she has primary fiduciary duty toward:
A. insufficient information.
B. both have to be treated on the same footing.
C. the income beneficiaries.
D. the remaindermen.
Personal trust account trustees are subject to the "Prudent Man Rule" in their investment behavior and are required to follow the guidelines of the trust. In particular, when there are conflicting interests involved, the trustee is required to maintain an equitable balance between the interests of different groups. Standard IV (B.1) - Fiduciary Duties - and the Topical Study, "Fiduciary Duty."