58a-1009 Beneficiary’s consent, release, or ratification.
58a-1009. Beneficiary’s consent, release, or ratification. A trustee is not liable to a beneficiary for breach of trust if the beneficiary consented to the conduct constituting the breach, released the trustee from liability for the breach, or ratified the transaction constituting the breach, unless: (1) The consent, release, or ratification of the beneficiary was induced […]
58a-1010 Limitation on personal liability of trustee.
58a-1010. Limitation on personal liability of trustee. (a) Except as otherwise provided in the contract, a trustee is not personally liable on a contract properly entered into in the trustee’s fiduciary capacity in the course of administering the trust if the trustee in the contract disclosed the fiduciary capacity. (b) A trustee is personally liable […]
58a-1011 Interest as general partner.
58a-1011. Interest as general partner. (a) Except as otherwise provided in subsection (c) or unless personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered into by the partnership after the trust’s acquisition of […]
58a-1012 Protection of person dealing with trustee.
58a-1012. Protection of person dealing with trustee. (a) A person other than a beneficiary who in good faith assists a trustee, or who in good faith and for value deals with a trustee, without knowledge that the trustee is exceeding or improperly exercising the trustee’s powers is protected from liability as if the trustee properly […]
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-901 Application of uniform prudent investor act.
58a-901. Application of uniform prudent investor act. Notwithstanding any provisions of the Kansas uniform trust act to the contrary, K.S.A. 58-24a01 et seq., and amendments thereto shall govern the investment and management of trust assets. History: L. 2002, ch. 133, § 75; Jan. 1, 2003.
58a-804 Prudent administration.
58a-804. Prudent administration. A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution. History: L. 2002, ch. 133, § 61; Jan. 1, 2003.
58a-1001 Remedies for breach of trust.
58a-1001. Remedies for breach of trust. (a) A violation by a trustee of a duty the trustee owes to a beneficiary is a breach of trust. (b) To remedy a breach of trust that has occurred or may occur, the court may: (1) Compel the trustee to perform the trustee’s duties; (2) enjoin the trustee […]