§ 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 […]
§ 14-10803 – Impartiality
14-10803. 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.
§ 14-10804 – Prudent administration
14-10804. 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.
§ 14-10805 – Costs of administration
14-10805. Costs of administration In administering a trust, the trustee may incur only costs that are reasonable in relation to the trust property, the purposes of the trust and the skills of the trustee.
§ 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 […]