[ Editor’s note: This section is effective January 1, 2022.] In making an allocation or determination or exercising discretion under this article 1.2, a fiduciary shall: Act in good faith, based on what is fair and reasonable to all beneficiaries; Administer a trust or estate impartially, except to the extent the terms of the trust […]
[ Editor’s note: This section is effective January 1, 2022.] In this section, “fiduciary decision” means: A fiduciary’s allocation between income and principal or other determination regarding income and principal required or authorized by the terms of the trust or this article 1.2; The fiduciary’s exercise or nonexercise of a discretionary power regarding income and […]
[ Editor’s note: This section is effective January 1, 2022.] Except as otherwise provided in the terms of a trust or this section, a fiduciary, in a record, without court approval, may adjust between income and principal if the fiduciary determines the exercise of the power to adjust will assist the fiduciary to administer the […]
[ Editor’s note: This section is effective January 1, 2022.] In this section, the following definitions apply: “Objection period” means the period of time prior to the date by which an objection must be received as described in section 15-1.2-304 (4)(e). “Qualified beneficiary” has the same meaning as set forth in section 15-5-103 (16). A […]
