58a-814 Discretionary powers.
58a-814. Discretionary powers. Notwithstanding the breadth of discretion granted to a trustee in the terms of the trust, including the use of such terms as “absolute,” “sole,” or “uncontrolled,” the trustee shall exercise a discretionary power in good faith and in accordance with the terms and purposes of the trust and the interests of the […]
58a-815 General powers of trustee.
58a-815. General powers of trustee. (a) A trustee, without authorization by the court, may exercise: (1) Powers conferred by the terms of the trust; and (2) except as limited by the terms of the trust: (A) All powers over the trust property which an unmarried competent owner has over individually owned property; (B) any other […]
58a-816 Specific powers of trustee.
58a-816. Specific powers of trustee. Without limiting the authority conferred by K.S.A. 58a-815, and amendments thereto, a trustee may: (1) Collect trust property and accept or reject additions to the trust property from a settlor or any other person; (2) acquire or sell property, for cash or on credit, at public or private sale; (3) […]
58a-817 Distribution upon termination.
58a-817. Distribution upon termination. (a) Upon termination or partial termination of a trust, the trustee may send to the qualified beneficiaries a proposal for distribution. The right of any qualified beneficiary to object to the proposed distribution terminates if the qualified beneficiary does not notify the trustee of an objection within 30 days after the […]
58a-818 Debts of deceased settlor; notice.
58a-818. Debts of deceased settlor; notice. (1) Any trustee who has a duty or power to pay the debts of a deceased settlor may give notice to creditors thereof. Such notice shall be published once a week for three consecutive weeks in a newspaper, authorized by law to publish legal notices, of the county in […]
58a-801 Duty to administer trust.
58a-801. Duty to administer trust. Upon acceptance of a trusteeship, the trustee shall administer the trust in good faith, in accordance with its terms and purposes and the interests of the beneficiaries, and in accordance with this code. History: L. 2002, ch. 133, § 58; Jan. 1, 2003.
58a-802 Duty of loyalty.
58a-802. Duty of loyalty. (a) A trustee shall administer the trust consistent with the terms of the trust and solely in the interests of the beneficiaries. (b) Subject to the rights of persons dealing with or assisting the trustee as provided in K.S.A. 58a-1012, and amendments thereto, a sale, encumbrance, or other transaction involving the […]
58a-803 Impartiality.
58a-803. Impartiality. If a trust has two or more beneficiaries, the trustee shall act impartially in investing, managing, and distributing the trust property, giving due regard to the beneficiaries’ respective interests. History: L. 2002, ch. 133, § 60; Jan. 1, 2003.