Statutory Powers of Delegation by Trustees
This report is the third made by the Trustee Act Modernization Committee of the British Columbia Law Institute. It is part of a broader study of the Trustee Act. This report examines the statutory powers of delegation in connection with its the Trustee Act. A trust is a relationship in which a designated trustee holds title to assets for the benefit of a designated person or persons called the beneficiaries. A trust is typically established when an owner of property (called the settlor) transfers the property to a trustee on terms describing how the trustee is to administer the property to confer the benefits that the settlor intends. This report makes recommendations concerning how delegation of trust powers, duties, and discretions should be treated generally in a revised Trustee Act.
Keywords: trusts and trustees, Trustee Act, statutory powers, delegation by trustees, wills, estates & life planning, agents, power of attorney and representation agreements, liability of trustee, Speight v. Gaunt, Trustee Act Modernization Committee
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