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 4-10-716 – Power of Trust Advisor and Trust Protector to Act After Death or Incapacity of Grantor.
4-10-716. Power of trust advisor and trust protector to act after death or incapacity of grantor. Unless the trust instrument states otherwise, the power and authority of a trust advisor or trust protector shall not lapse at the death or incapacity of the grantor.
Section 4-10-717 – Fiduciary’s Liability for Action or Inaction of Trust Advisor and Trust Protector.
4-10-717. Fiduciary’s liability for action or inaction of trust advisor and trust protector. Unless the trust instrument appointing, designating or providing for a method for appointing a trust protector or trust advisor or the court order appointing a trust protector states otherwise, the excluded fiduciary is not liable for any loss resulting from any action […]
Section 4-10-718 – Directed Trusts.
4-10-718. Directed trusts. (a) If a trust instrument provides that the fiduciary duties of a trustee or other fiduciary are to be performed by a trust protector or a trust advisor or that a trustee or other fiduciary is to follow the direction of a trust protector or a trust advisor with respect to the […]
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 […]
Section 4-10-708 – Compensation of Trustee.
4-10-708. Compensation of trustee. (a) If the terms of a trust do not specify the trustee’s compensation, a trustee is entitled to compensation that is reasonable under the circumstances. The trustee shall notify the qualified beneficiaries, in writing, of any change in the method or rate of the trustee’s compensation. Notice shall be given not […]