§ 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 title. (Added 2009, No. 20, § 1.)
§ 802. Duty of loyalty (a) A trustee shall administer the trust solely in the interests of the beneficiaries. (b) Subject to the rights of persons dealing with or assisting the trustee as provided in section 1012 of this title, a sale, encumbrance, or other transaction involving the investment or management of trust property entered […]
§ 803. Impartiality If a trust has two or more beneficiaries, the trustee shall act impartially in administering the trust, giving due regard to the beneficiaries’ respective interests. (Added 2009, No. 20, § 1.)
§ 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. (Added 2009, No. 20, § 1.)
§ 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. (Added 2009, No. 20, § 1.)
§ 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. (Added 2009, No. 20, § 1.)
§ 807. Delegation by trustee (a) A trustee may delegate duties and powers that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caution in: (1) selecting an agent; (2) establishing the scope and terms of the delegation, consistent with the purposes and terms […]
§ 808. Powers to direct (a) While a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust. (b) If the terms of a trust confer upon a person other than the settlor of a revocable trust power to direct certain actions of the […]
§ 809. Control and protection of trust property A trustee shall take reasonable steps to take control of and protect the trust property. (Added 2009, No. 20, § 1.)
§ 810. Recordkeeping and identification of trust property (a) A trustee shall keep adequate records of the administration of the trust. (b) A trustee shall keep trust property separate from the trustee’s own property. (c) Except as otherwise provided in subsection (d) of this section, a trustee shall cause the trust property to be designated […]
§ 811. Enforcement and defense of claims A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust. (Added 2009, No. 20, § 1.)
§ 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 to redress a breach of trust known to the trustee to have been committed by a former trustee. (Added 2009, No. 20, § 1.)
§ 813. Duty to inform and report (a) 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, a trustee shall promptly respond to a beneficiary’s request for information related […]
§ 814. Discretionary powers; tax savings (a) 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 […]
§ 815. General powers of trustee (a) A trustee, without authorization by the Probate Division of the Superior Court, may exercise: (1) powers conferred by the terms of the trust; and (2) except as limited by the terms of the trust: (A) all powers over the trust property which an unmarried competent owner has over […]
§ 816. Specific powers of trustee Without limiting the authority conferred by § 815 of this title, a trustee may: (1) collect trust property and accept or reject additions to the trust property from a settlor or any other person; (2) acquire or sell property, for cash or on credit, at public or private sale; […]
§ 817. Distribution upon termination (a) 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 […]
