A trustee occupies a position of trust and confidence. If a trustee manages the property poorly, the beneficiaries bear the loss. The law regulates this risk primarily by imposing a number of fiduciary duties on the trustee that he or she owes; the duties of loyalty and prudence in particular, and then a number of subsidiary duties.
In addition to the above, the trustee must send a notification to current beneficiaries and heirs at law when:
The notification must include a statement that the recipient is entitled, on reasonable request, to the trustee, to receive from the trustee a true and complete copy of the terms of the trust and if the notification is served because a revocable trust or portion of it has become irrevocable, a boldfaced warning set out in a separate paragraph that the recipient has a specified limited amount of time in which to bring an action to contest the trust.