If a co-fiduciary is absent or removed, what may the remaining fiduciaries do regarding his or her powers?

Prepare for the California Fiduciary Test with expert-crafted questions and in-depth explanations. Hone your skills and increase your confidence for a successful exam experience!

The correct answer reflects a key principle in fiduciary law: when a co-fiduciary becomes absent or is removed, the remaining fiduciaries are typically allowed to assume the absent co-fiduciary's powers automatically. This automatic assumption of powers ensures the continuity of the fiduciary's responsibilities and obligations, maintaining the ability to act in the best interest of the beneficiaries without unnecessary delays or legal hurdles.

This principle is grounded in the idea that fiduciaries have a duty to act consistently and efficiently for the benefit of the trust or estate. If they were required to seek court approval or written consent to assume these powers, it could hinder their ability to perform their duties effectively, especially in urgent situations that require immediate action. Therefore, recognizing that fiduciaries need the ability to operate collectively and independently is essential for the effective management of fiduciary tasks and responsibilities.

The other options suggest that there either must be court approval, no assumption of powers, or written consent needed, which could complicate the fiduciary process and slow down decision-making unnecessarily.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy