Islamic law principles applicable to the administration of trusts
Under English Law, a trustee who breaches his duties is exposed to a potential claim for breach of trust; breach of fiduciary duty; and/or negligence, and if he is a professional trustee, e.g. a bank , accountant, or solicitor, will have professional indemnity insurance cover. Unless an exemption clause is valid and exonerates the breach, or the court otherwise excuses the breach, the extent of their potential liability is unlimited, the court issue fees in the English court in a will, trust, and inheritance dispute, are relatively nominal. In exercising the general power of investment, the trustee is under a duty to have regard to the so-called ‘standard investment criteria’. These criteria also apply when the trustee reviews investments.
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