What are the duties of a trustee under Texas law?

What are the duties of a trustee under Texas law?

A trustee must:

  • comply with the terms of the trust instrument,
  • put trust assets to productive use (typically through investment),
  • manage trust assets with the prudence, intelligence and judgment that an ordinary person would use in managing his own assets (the “prudent investor” standard),
  • avoid conflicts of interest,
  • refrain from borrowing trust assets,
  • refrain from favoring one beneficiary over another, and
  • provide beneficiaries with an accounting statement at least once a year.
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