PROBLEMS OF THE SUCCESSOR TRUSTEE AS TO CLAIMS ARISING OUT OF SELF DEALING PURCHASES

Although, under certain circumstances, the beneficiaries also may be able to enforce them, it is well settled that a successor trustee has the power to assert and enforce claims against his predecessor trustee for breaches of trust by the predecessor. Generally, wherever the circumstances are such that certain action or inaction by beneficiaries would bar them from taking advantage of a particular remedy if they were not under any incapacity, such action or inaction by the successor trustee will likewise be a bar. Therefore, in considering what remedies are available to the successor trustee and what activity or inactivity of that trustee may bar those remedies, reference will be made not only to those authorities dealing with claims by a successor trustee against his predecessor but also those authorities dealing with claims asserted directly by a beneficiary against his trustee.