What must a trustee do in relation to beneficiaries?

A trustee has a fiduciary duty to act in the best interests of the beneficiaries, which includes a responsibility to communicate regularly and transparently with them. This transparency is fundamental to the trust relationship, as it helps maintain trust and confidence in the trustee's management of the assets. Regular communication ensures that beneficiaries are informed about the status of the trust, its assets, and any decisions affecting them. This engagement is crucial for addressing any concerns beneficiaries may have and for ensuring that they understand the trustee’s actions and the overall management of the trust.

Additionally, providing regular updates aligns with the trustee's obligation to act in good faith and to keep beneficiaries adequately informed about their interests. This duty of communication helps to prevent misunderstandings and disputes, fostering a transparent and cooperative relationship between the trustee and the beneficiaries. Overall, such communication reflects the trustee’s commitment to their fiduciary responsibilities.