Wills, Trusts, and Estates
Impartiality
If there are multiple beneficiaries, the trustee has a duty of impartiality. This duty requires him to give due regard to the beneficiaries' respective interests.
This duty does not require a trustee to treat beneficiaries equally. If there is a life-time beneficiary and a remainder beneficiary, the possible investment types will have benefits to one of the beneficiaries to the detriment of the other. The trustee will have to prefer one. Who should be preferred should be set in the terms of the trust.