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 456.8-801 – Duty to administer trust.
Effective – 01 Jan 2005 456.8-801. Duty to administer trust. — Upon 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 sections 456.1-101 to 456.11-1106. ——– (L. 2004 H.B. 1511) Effective 1-01-05
Section 456.8-802 – Duty of loyalty.
Effective – 28 Aug 2008 456.8-802. Duty of loyalty. — 1. A trustee shall administer the trust solely in the interests of the beneficiaries. 2. Subject to the rights of persons dealing with or assisting the trustee as provided in section 456.10-1012, a sale, encumbrance, or other transaction involving the investment or management of trust […]
Section 456.8-803 – Impartiality.
Effective – 01 Jan 2005 456.8-803. 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. ——– (L. 2004 H.B. 1511) Effective 1-01-05
Section 456.8-804 – Prudent administration.
Effective – 01 Jan 2005 456.8-804. 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. ——– (L. 2004 H.B. 1511) Effective 1-01-05
Section 456.8-805 – Costs of administration.
Effective – 01 Jan 2005 456.8-805. 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. ——– (L. 2004 H.B. 1511) Effective 1-01-05