Section 46A-10-1005 – Limitation of action against trustee.
A. A beneficiary shall not commence a proceeding against a trustee for breach of trust more than one year after the date the beneficiary or a representative of the beneficiary was sent a report that adequately disclosed the existence of a potential claim for breach of trust and informed the beneficiary of the time allowed […]
Section 46A-10-1006 – Reliance on trust instrument.
A trustee who acts in reasonable reliance on the terms of the trust as expressed in the trust instrument is not liable to a beneficiary for a breach of trust to the extent the breach resulted from the reliance. History: Laws 2003, ch. 122, § 10-1005; recompiled as § 46A-10-1006 by Laws 2007, ch. 128, […]
Section 46A-10-1007 – Event affecting administration or distribution.
If the happening of an event, including marriage, divorce, performance of educational requirements or death, affects the administration or distribution of a trust, a trustee who has exercised reasonable care to ascertain the happening of the event is not liable for a loss resulting from the trustee’s lack of knowledge. History: Laws 2003, ch. 122, […]
Section 46A-10-1008 – Exculpation of trustee.
A. A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that it: (1) relieves the trustee of liability for breach of trust committed in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries; or (2) was […]
Section 46A-10-1009 – 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: A. the consent, release or ratification of the beneficiary was induced by improper conduct of the trustee; […]
Section 46A-8-811 – Enforcement and defense of claims.
A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust. History: Laws 2003, ch. 122, § 8-811. ANNOTATIONS Effective dates. — Laws 2003, ch. 122, § 11-1106 made the act effective July 1, 2003.
Section 46A-8-812 – Collecting trust property.
A trustee shall take reasonable steps to compel a former trustee or other person to deliver trust property to the trustee and to redress a breach of trust known to the trustee to have been committed by a former trustee. History: Laws 2003, ch. 122, § 8-812. ANNOTATIONS Effective dates. — Laws 2003, ch. 122, […]
Section 46A-8-813 – Duty to inform and report.
A. A trustee shall keep the qualified beneficiaries of the trust reasonably informed about the administration of the trust and of the material facts necessary for them to protect their interests. Unless unreasonable under the circumstances, a trustee shall promptly respond to a beneficiary’s request for information related to the administration of the trust. B. […]
Section 46A-8-814 – Discretionary powers; tax savings.
A. 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 beneficiaries. B. […]
Section 46A-8-815 – 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 that an unmarried competent owner has over individually owned property; (b) any other powers appropriate to achieve the […]