§ 14-10806 – Trustee’s skills
14-10806. Trustee’s skills A trustee who has special skills or expertise, or who is named trustee in reliance on the trustee’s representation that the trustee has special skills or expertise, shall use those special skills or expertise.
§ 14-10807 – Delegation by trustee
14-10807. Delegation by trustee A. 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: 1. Selecting an agent. 2. Establishing the scope and terms of the delegation, consistent with the purposes and terms of […]
§ 14-10808 – Powers to direct
14-10808. Powers to direct A. While a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust. B. If the trust provides that the assets in the trust are subject to the direction of the settlor or a cotrustee, beneficiary or third party, the […]
§ 14-10809 – Control and protection of trust property
14-10809. Control and protection of trust property A trustee shall take reasonable steps to take control of and protect the trust property.
§ 14-10810 – Record keeping and identification of trust property
14-10810. Record keeping and identification of trust property A. A trustee shall keep adequate records of the administration of the trust. B. A trustee shall keep trust property separate from the trustee’s own property. C. Except as otherwise provided in subsection D, a trustee shall cause the trust property to be designated so that the […]
§ 14-10811 – Enforcement and defense of claims
14-10811. Enforcement and defense of claims A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust.
§ 14-10812 – Collecting trust property
14-10812. 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.
§ 14-10813 – Duty to inform and report
14-10813. Duty to inform and report A. Unless the trust instrument provides otherwise, 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 the trustee determines that it is unreasonable under the circumstances to […]
§ 14-10801 – Duty to administer trust
14-10801. Duty to administer trust On 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 chapter.
§ 14-10802 – Duty of loyalty
14-10802. Duty of loyalty A. A trustee shall administer the trust solely in the interests of the beneficiaries. B. Subject to the rights of persons dealing with or assisting the trustee as provided in section 14-11012, a sale, encumbrance or other transaction involving the investment or management of trust property entered into by the trustee […]