§ 108. Principal place of administration
§ 108. Principal place of administration (a) Without precluding other means for establishing a sufficient connection with the designated jurisdiction, terms of a trust designating the principal place of administration are valid and controlling if: (1) a trustee’s principal place of business is located in or a trustee is a resident of the designated jurisdiction; […]
§ 109. Methods and waiver of notice
§ 109. Methods and waiver of notice (a) Notice to a person under this title or the sending of a document to a person under this title must be accomplished in a manner reasonably suitable under the circumstances and likely to result in receipt of the notice or document. Permissible methods of notice or for […]
§ 110. Others treated as qualified beneficiaries
§ 110. Others treated as qualified beneficiaries (a) Whenever notice to qualified beneficiaries of a trust is required under this title, the trustee shall also give notice to any other beneficiary who has sent the trustee a request for notice. (b)(1) A charitable organization expressly designated to receive distributions under the terms of a charitable […]
§ 111. Nonjudicial settlement agreements
§ 111. Nonjudicial settlement agreements (a) For purposes of this section, “interested persons” means persons whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the Probate Division of the Superior Court. (b) Except as otherwise provided in subsection (c) of this section, interested persons may […]
§ 112. Rules of construction
§ 112. Rules of construction The rules of construction that apply in this State to the interpretation of and disposition of property by will also apply as appropriate to the interpretation of the terms of a trust and the disposition of the trust property. (Added 2009, No. 20, § 1.)
§ 102. Scope
§ 102. Scope (a) This title applies to express trusts, charitable or noncharitable, and trusts created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust. Except as provided in subsection (b) of this section, this title shall not apply to trusts described in […]
§ 103. Definitions
§ 103. Definitions In this title: (1) “Action,” with respect to an act of a trustee, includes a failure to act. (2) “Ascertainable standard” means a standard relating to an individual’s health, education, support, or maintenance within the meaning of Section 2041(b)(1)(A) or 2514(c)(1) of the Internal Revenue Code of 1986, as in effect on […]
§ 104. Knowledge
§ 104. Knowledge (a) Subject to subsection (b) of this section, a person has knowledge of a fact if the person: (1) has actual knowledge of it; (2) has received a notice or notification of it; or (3) from all the facts and circumstances known to the person at the time in question, has reason […]
§ 105. Default and mandatory rules
§ 105. Default and mandatory rules (a) Except as otherwise provided in the terms of the trust, this title governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary. (b) The terms of a trust prevail over any provision of this title except: (1) the requirements […]
§ 106. Common law of trusts; principles of equity
§ 106. Common law of trusts; principles of equity The common law of trusts and principles of equity supplement this title, except to the extent modified by this title or another statute of this state. (Added 2009, No. 20, § 1.)