In Mississippi, Trustees have duties and other rules that govern them.

A Trustee must act in good faith in performing the provisions of the trust and best interest of the beneficiaries.

A Trustee owes a duty of loyalty to the beneficiaries. For example, he or she cannot do anything that is a conflict of interest between the personal interest of the Trustee vs. the interest of the beneficiaries. The conflict is between the personal interest vs. the fiduciary duties, If the trust terms provide for a transaction with the trustee that would otherwise not be allowed, it is acceptable.

Entering into a transaction on behalf of the trust with the spouse, descendants, company, agent or attorney of the trustee is assumed a conflict of interest.  There are exceptions to some transactions where the trustee is interested if certain conditions are met.

If there are two or more beneficiaries, the trustee cannot act to perfer the interest of one beneficiary over another.  The trustee must be impartial between beneficiaries.

Acting with reasonable care, skill and caution is required of all trustees. If there are special skills held by a trustee, the trustee will be held to a higher degree of reasonable care to meet those special skills.  For example, a person in a bank department being a trustee of many trusts.

A trustee can delegate duties to another such as an agent selling property of the trust, or where the trustee is out of the country and needs to appoint another to act in his or her behalf.

If the trust is a revocable trust, the trust shall follow the directions of the maker of the trust even if those directives are inconsistent with the provisions of the trust. The trust terms can also specify another person who has the power to control the trustee and the trustee must follow directives of that person.

If the trust terms allow it, the trustee can have the power to modify and terminate the trust.

A trust advisor and trust protector may have the power to direct the trustee if appointed and so designated.  If the powers of the trust advisor or trust protector are specified by law to control, the trustee is not liable for those actions.

In administration of the trust, the trustee shall keep adequate records of all transactions of any kind regarding the trust.

The trustee shall defend claims against the trust and pursue claims of the trust. If the trustee believes a claim of the trust is unreasonable, the trustee may assign the claim to one or more beneficiaries of the trust.

A trustee shall collect and protect all trust assets. Providing information and reports to beneficiaries of the trust is required of material facts as well as responding to reasonable questions of the beneficiaries. If the trust is irrevocable there are additional duties of the trustee in regard to beneficiaries.