A trustee is required to “keep adequate records of the administration of the trust.” Section 456.8-810, RSMo. This is closely related to the duties to act with prudence and report and inform to the beneficiaries. Failure to follow any of these duties is a breach of trust. It could lead to a damages claim. If…
Legal Articles
Trustee Duty to Report and Inform
As part of a trustee’s fiduciary duties, there is an important obligation to keep beneficiaries ” “reasonably informed about the administration of the trust and of material facts necessary for them to protect their interests.” § 456.8-813, RSMo. This is flexible language and greatly depends on the facts of a particular section. However, the official…