Section 4-10-812 – Collecting Trust Property.
4-10-812. 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 may redress a breach of trust known to the trustee to have been committed by a former trustee.
Section 4-10-803 – Impartiality.
4-10-803. Impartiality. If a trust has two (2) or more beneficiaries, the trustee shall act impartially in investing, managing and distributing the trust property, giving due regard to the beneficiaries’ respective interests.
Section 4-10-804 – Prudent Administration.
4-10-804. 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.
Section 4-10-805 – Costs of Administration.
4-10-805. 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.
Section 4-10-806 – Trustee’s Skills.
4-10-806. Trustee’s skills. A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee’s representation that the trustee has special skills or expertise, shall use those special skills or expertise.
Section 4-10-801 – Duty to Administer Trust.
4-10-801. 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 this act.
Section 4-10-802 – Duty of Loyalty.
4-10-802. Duty of loyalty. (a) A trustee shall administer the trust solely in the interests of the beneficiaries as their interests are defined under the terms of the trust. (b) Subject to the rights of persons dealing with a fiduciary as provided in W.S. 4-10-1013, a sale, encumbrance or other transaction involving the investment or […]