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Trustee’s Duties

Written by on Sep 16, 2008| Posted in: Estate Litigation

TRUSTEE’S DUTIES

What is the legal duty of a fiduciary?

The answer from Justice Cardozo is still quoted today:  “A trustee is held to something stricter than the morals of the market place.  Not honesty alone, but the punctillo of an honor most sensitive, is then the standard of behavior.”

Meinhardt v. Salmon, 249 N.Y. 458, 464, 164 N.E. 545, 546 (1928).

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