24.4.1 Duty to take advice

As will be seen from the above, and subject to the exception stated, all trustees are now under a duty to take advice before implementing an investment decision.

Such advice will take account of a range of issues such as:

the needs of the beneficiary or beneficiaries: i.e. do the trustees need to generate income, capital growth or both in order to satisfy the needs of the beneficiaries?

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