75-7-801. Duty to administer trust. Upon acceptance of a trusteeship, the trustee shall administer the trust expeditiously and in good faith, in accordance with its terms and purposes and the interests of the beneficiaries, and in accordance with this chapter. Enacted by Chapter 89, 2004 General Session
75-7-802. Duty of loyalty. (1) A trustee shall administer the trust solely in the interests of the beneficiaries. (2) Subject to the rights of persons dealing with or assisting the trustee as provided in Section 75-7-1012, a sale, encumbrance, or other transaction involving the investment or management of trust property entered into by the trustee […]
75-7-803. Impartiality. If a trust has two or more beneficiaries, the trustee shall act impartially in investing, managing, and distributing the trust property, giving due regard to the beneficiaries’ respective interests. Enacted by Chapter 89, 2004 General Session
75-7-804. 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. Enacted by Chapter 89, 2004 General Session
75-7-805. 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. Enacted by Chapter 89, 2004 General Session
75-7-806. Trustee’s skills. A trustee who 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. Enacted by Chapter 89, 2004 General Session
75-7-807. Control and protection of trust property. A trustee shall take reasonable steps to take control of and protect the trust property. Enacted by Chapter 89, 2004 General Session
75-7-808. Recordkeeping and identification of trust property. (1) A trustee shall keep adequate records of the administration of the trust. (2) A trustee shall keep trust property separate from the trustee’s own property. (3) Except as otherwise provided in Subsection (4), a trustee shall cause the trust property to be designated so that the interest […]
75-7-809. Enforcement and defense of claims. A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust. Enacted by Chapter 89, 2004 General Session
75-7-810. 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 to redress a breach of trust known to the trustee to have been committed by a former trustee, unless the terms of the trust provide otherwise. Enacted by Chapter […]
75-7-811. Duty to inform and report. (1) Except to the extent the terms of the trust provide otherwise, a trustee shall keep the qualified beneficiaries of the trust reasonably informed about the administration of the trust and of the material facts necessary for them to protect their interests. Unless unreasonable under the circumstances, and unless […]
75-7-812. Discretionary powers — Tax savings. (1) Notwithstanding the breadth of discretion granted to a trustee in the terms of the trust, including the use of such terms as “absolute,” “sole,” or “uncontrolled,” the trustee shall exercise a discretionary power in good faith and in accordance with the terms and purposes of the trust and […]
75-7-813. General powers of trustee. (1) A trustee, without authorization by the court, may exercise: (a) powers conferred by the terms of the trust; or (b) except as limited by the terms of the trust: (i) all powers over the trust property which an unmarried competent owner has over individually owned property; (ii) any other […]
75-7-814. Specific powers of trustee. (1) Without limiting the authority conferred by Section 75-7-813, a trustee may: (a) collect trust property and accept or reject additions to the trust property from a settlor or any other person; (b) acquire or sell property, for cash or on credit, at public or private sale; (c) exchange, partition, […]
75-7-815. Distribution upon termination. (1) Upon termination or partial termination of a trust, the trustee may send to the beneficiaries a proposal for distribution. The right of any beneficiary to object to the proposed distribution terminates if the beneficiary does not notify the trustee of an objection within 30 days after the proposal was sent […]
Effective 5/9/2017 75-7-816. Recitals when title to real property is in trust — Failure. (1) When title to real property is granted to a person as trustee, the terms of the trust may be given either: (a) in the deed of transfer; or (b) in an instrument signed by the grantor and recorded in the […]
75-7-817. Marital deduction formulas — Trusts. (1) For estates of decedents dying after December 31, 1981, where a decedent’s trust executed before September 13, 1981, contains a formula expressly providing that the decedent’s spouse is to receive the maximum amount of property qualifying for the marital deduction allowable by federal law, this formula shall be […]
