§ 36C-8A-4 – Duty and liability of trustee.
36C-8A-4. Duty and liability of trustee. (a) If the terms of a trust confer upon a power holder the power to direct certain actions of the trustee, the trustee shall act in accordance with the direction and is not liable, individually or as a fiduciary, for any loss resulting directly or indirectly from compliance with […]
§ 36C-8-810 – Record keeping and identification of trust property.
36C-8-810. 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) of this section, a trustee shall cause the trust property to be designated […]
§ 36C-8-811 – Enforcement and defense of claims.
36C-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. (2005-192, s. 2.)
§ 36C-8-812 – Collecting trust property.
36C-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. (2005-192, s. 2.)
§ 36C-8-813 – Duty to inform and report.
36C-8-813. Duty to inform and report. (a) The trustee is under a duty to do all of the following: (1) Provide reasonably complete and accurate information as to the nature and amount of the trust property, at reasonable intervals, to any qualified beneficiary who is a distributee or permissible distributee of trust income or principal. […]
§ 36C-8-814 – Discretionary powers; tax savings.
36C-8-814. Discretionary powers; tax savings. (a) Notwithstanding the breadth of discretion granted to a trustee in the terms of the trust, including the use of terms such as "absolute", "sole", or "uncontrolled", a trustee abuses the trustee’s discretion in exercising or failing to exercise a discretionary power if the trustee acts with bad faith, acts […]
§ 36C-8-815 – General powers of trustee.
36C-8-815. General powers of trustee. (a) A trustee, without authorization by the court, may exercise any of the following: (1) Powers conferred by the terms of the trust. (2) Except as limited by the terms of the trust: a. All powers over the trust property that an unmarried competent owner has over individually owned property; […]
§ 36C-8-816 – Specific powers of trustee.
36C-8-816. Specific powers of trustee. Without limiting the authority conferred by G.S. 36C-8-815, a trustee may: (1) Collect and control trust property and accept or reject additions to the trust property from a settlor or any other person; (2) Invest and reinvest trust property as the trustee considers advisable in accordance with the trust, and […]
§ 36C-8-817 – Distribution upon termination.
36C-8-817. Distribution upon termination. Upon the occurrence of an event terminating or partially terminating a trust, the trustee shall proceed expeditiously to distribute the trust property to the persons entitled to it, subject to the right of the trustee to retain a reasonable reserve for the payment of debts, expenses, and taxes. (2005-192, s. 2.)
§ 36C-8-818 – Notice of deceased Medicaid beneficiaries.
36C-8-818. Notice of deceased Medicaid beneficiaries. If a trust was established by a person who at the time of that person’s death was receiving medical assistance, as defined in G.S. 108A-70.5(b), and the trust was revocable at the time of that person’s death, then any trustee of that trust that knows of the medical assistance […]