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A trustee, fiduciary, executor or equivalent fiduciary (hereafter collectively referred to as the fiduciary) of a trust or estate having one or more foreign beneficiaries must withhold tax in accordance with the rules of this § 1.1445-5(c)(1)(iii).
This is often described as a trustee's most important fiduciary duty, the duty of loyalty.
Lord Powell joined as a trustee.
You've been appointed as a trustee.
Casey served as a trustee alongside Isaac Parsons and Andrew Wodrow.
It wants them removed as a trustee.
He has served as a trustee since 1969.
As a fiduciary, a trustee's highest duty is to administer and invest trust assets prudently for the sole benefit of the beneficiaries, who can hold a trustee liable for failing in any respect.
Under the "sole interest rule" of trust fiduciary law, a trustee or other investment fiduciary must consider only the interests of the beneficiary.
Judge Preska ruled that the guaranty corporation can be held to the standard of conduct required of a trustee, known as a duty of loyalty or fiduciary duty, and not just to that of a mere guarantor of payments.
All of this in service of minimizing government pension costs, a goal that potentially violates pension trustees' fiduciary obligation to work on behalf of public employees and retirees.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com