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Trustee as Banc
Absent liability, without recourse, and no value assured and for educational purposes only:
I do not know the terms of the trust. However, if the Trust allows the Trustee unlimited authority, absent direction from a third party(ies), then yes, the trustee can invest in whatever it wants for the benefit of the beneficiaries.
Usually, trusts limit the powers of a trustee per the tenets of the trust. You need to read the trust very carefully. A trust holding property by Trustee (legal Title) and Beneficiary (equitable Title) is sufficient but can be problematic as to duties and accountability. A Director (third party) is usually desireable and a trustee(ship) is usually desireable as there can be checks and balances. Emotions can be more easily managed.
However, just as a house cannot be sold unless ALL in title agree such is the same with beneficiaries. ALL must agree. The Trustee is bound and CANNOT simply resign unless the trust allows for that event.
If you own 99% of a house and I own in trust 1% of the same house, the house cannot be sold unless the Trustee of the trust I am involved in agrees to the sale. You might want to read the trust a bit more carefully, as the original lawyer might not have been able to just resign. But, then again, I have not seen the trust.
Good luck.
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