§ 35-15-815. General Powers of Trustee
A trustee, without authorization by the court, may exercise: Powers conferred by the terms of the trust; and Except as limited by the terms of the trust: All powers over the trust property which an unmarried competent owner has over individually owned property; Any other powers appropriate to achieve the proper investment, management, and distribution […]
§ 35-15-806. Trustee’s Skills
A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee’s representation that the trustee has special skills or expertise, shall use those special skills or expertise.
§ 35-15-807. Delegation by Trustee
A trustee may delegate duties and powers that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caution in: Selecting an agent; Establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and Periodically reviewing the agent’s […]
§ 35-15-808. Powers to Direct — Transitional Provisions
While a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust or contrary to the normal practice of the trustee in regard to the action requested. If the terms of a trust, an agreement of the qualified beneficiaries, or a court order, confer […]
§ 35-15-809. Control and Protection of Trust Property
A trustee shall take reasonable steps to take control of and protect the trust property.
§ 35-15-810. Recordkeeping and Identification of Trust Property
A trustee shall keep adequate records of the administration of the trust. A trustee shall keep trust property separate from the trustee’s own property. Except as otherwise provided in subsection (d), a trustee shall cause the trust property to be designated so that the interest of the trust, to the extent feasible, appears in records […]
§ 35-15-811. Enforcement and Defense of Claims
A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust. A trustee may abandon or assign any claim that it believes is unreasonable to enforce to one or more of the beneficiaries of the trust holding the claim.
§ 35-15-812. 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. No successor trustee appointed after the examination of the accounts of a trustee or the […]
§ 35-15-813. Duty to Inform and Report
A trustee shall keep the beneficiaries of the trust who are current mandatory or permissible distributees of trust income or principal, or both, reasonably informed about the administration of the trust and of the material facts necessary for them to protect their interests. If a trust is divided into separate shares for the sole benefit […]
§ 35-15-713. Vacancy; Directed Trusts
Except as otherwise provided by the terms of the trust upon obtaining knowledge of a vacancy in the office of trust advisor or trust protector, the trustee shall be vested with any fiduciary power or duty that otherwise would be vested in the trustee but that by the terms of the trust was vested in […]