Section 456.8-816 – Specific powers of trustee.
Effective – 28 Aug 2008, 2 histories 456.8-816. Specific powers of trustee. — Without limiting the authority conferred by section 456.8-815, a trustee may: (1) collect trust property and accept or reject additions to the trust property from a settlor or any other person; (2) acquire or sell property in divided or undivided interests, for […]
Section 456.8-817 – Distribution upon termination.
Effective – 01 Jan 2005 456.8-817. Distribution upon termination. — 1. Upon termination or partial termination of a trust, the trustee may send to the beneficiaries a proposal for distribution. The right of any beneficiary to object to the proposed distribution terminates if the beneficiary does not notify the trustee of an objection within thirty […]
Section 456.8-807 – Delegation by trustee.
Effective – 01 Jan 2005 456.8-807. Delegation by trustee. — 1. A trustee may delegate to an agent 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 […]
Section 456.8-808 – Powers to direct — trust protector, powers, limitations.
Effective – 28 Aug 2018, 2 histories 456.8-808. Powers to direct — trust protector, powers, limitations. — 1. While a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust. 2. A trust instrument may provide for one or more persons, not then serving […]
Section 456.8-809 – Control and protection of trust property.
Effective – 01 Jan 2005 456.8-809. Control and protection of trust property. — A trustee shall take reasonable steps to take control of and protect the trust property, except that this duty does not apply to, and the trustee is not responsible for, items of tangible personal property that are property of a trust revocable […]
Section 456.8-810 – Record keeping and identification of trust property.
Effective – 01 Jan 2005 456.8-810. Record keeping and identification of trust property. — 1. A trustee shall keep adequate records of the administration of the trust. 2. A trustee shall keep trust property separate from the trustee’s own property. 3. Except as otherwise provided in subsection 4 of this section, a trustee shall cause […]
Section 456.8-811 – Enforcement and defense of claims.
Effective – 01 Jan 2005 456.8-811. Enforcement and defense of claims. — A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust. ——– (L. 2004 H.B. 1511) Effective 1-01-05
Section 456.8-812 – Collecting trust property.
Effective – 01 Jan 2005 456.8-812. 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. ——– (L. 2004 H.B. 1511) […]
Section 456.8-813 – Duty to inform and report — inapplicable, when.
Effective – 28 Aug 2011, 2 histories 456.8-813. Duty to inform and report — inapplicable, when. — 1. (1) 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. A trustee shall be presumed to […]
Section 456.8-814 – Discretionary powers — tax savings.
Effective – 28 Aug 2006 456.8-814. Discretionary powers — tax savings. — 1. Notwithstanding the use of such terms as “absolute,””sole,” or “uncontrolled,” in the exercise of discretion under an ascertainable standard, the trustee shall exercise such discretionary power in good faith and in accordance with the terms and purposes of the trust and the […]