A. In making an allocation or determination or exercising discretion under this chapter, a fiduciary shall: 1. Act in good faith, based on what is fair and reasonable to all beneficiaries; 2. Administer a trust or estate impartially, except to the extent the terms of the trust manifest an intent that the fiduciary shall or […]
A. As used in this section, “fiduciary decision” means: 1. A fiduciary’s allocation between income and principal or other determination regarding income and principal required or authorized by the terms of the trust or this chapter; 2. The fiduciary’s exercise or nonexercise of a discretionary power regarding income and principal granted by the terms of […]
A. Except as otherwise provided in the terms of a trust or this section, a fiduciary, in a record, without court approval, may adjust between income and principal if the fiduciary determines the exercise of the power to adjust will assist the fiduciary to administer the trust or estate impartially. B. This section does not […]
