HomeMy WebLinkAbout2132 accountability for the acts of a predecessor Trustees his
accountability and responsibility shall be limited to those
assets or properties, record title to which is in the name of
the predecessor Trustee at the date when the successor Trustee
commences to act and which are either delivered into his
possession or the existence of which is brought to his actual
knowledge.
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(F) Compensation of Trustees. The individuals named
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as Trustees shall not receive compensation for their services
as Trustees. However, they shall be entitled to reimbursement
for all expenses incurred in the performance of their duties as
Trustees, including travel expenses. In the event a corporate ~
Trustee shall be serving- hereunder, the corporate Trustee shall
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be compensated according to the schedule of charges published
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by the corporate Trustee and in effect at the date the services s
are rendered. '
(G) Annual Accounting. The Trustees shall render an
annual account of the administration of the trust to the income
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beneficiary of each trust. If no objection to wn account has
been made in writing by the Grantor or a beneficiary (or his or
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her legal representative, if the beneficiary is incompetent or
deceased or a minor) within sixty (60) days after the date of
mailing of such account by -the Trustees, it shall be deemed
approved and shall be conclusive and binding upon all ~ 1
interested persons.
(H) Authority to Act. The Trustees shall make no
decision affecting the trust estate except by mutual
agreement. However, to facilitate the administration of the
trust, in those instances in which it is inconvenient to obtain
the signatures of all TrLStees, any one Trustee shall have the-
power to execute any document affecting or relating to the
trust and the signatures of such Trustee shall be binding upon
the trust estate and all parties interested therein. The
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Trustee executing such a document shall furnish a copy of the
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