Effective 7/1/2020 22-3-201. Fiduciary duties — General principles. (1) In making an allocation or determination or exercising discretion under this chapter, a fiduciary shall: (a) act in good faith, based on what is fair and reasonable to all beneficiaries; (b) administer a trust or estate impartially, except to the extent the terms of the trust […]
Effective 7/1/2020 22-3-202. Judicial review of exercise of discretionary power — Request for instruction. (1) In this section, “fiduciary decision” means: (a) 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 chapter; (b) the fiduciary’s exercise or nonexercise of […]
Effective 7/1/2020 22-3-203. Fiduciary’s power to adjust. (1) 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 trust or […]
