Title 35, Fiduciaries And Trust Estates

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.

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.

(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 delegatio…

(a) While a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust or contrary to the normal practice of the trustee in regard to the action requested. (b) If the terms of a trust, a nonjudicial settlement agreement, or a …

A trustee shall take reasonable steps to take control of and protect the 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), a trustee shall cause the trust property to be designated so that th…

(a) A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust. (b) A trustee may abandon or assign any claim that it believes is unreasonable to enforce to one or more of the beneficiaries of the trust holding the claim.

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. No successor trustee appointed after the examination of the…

(a) (1) A trustee shall keep the beneficiaries of the trust who are current mandatory or permissible distributees of trust income or principal, or both, reasonably informed about the administration of the trust and of the material facts necessary for them to protect their interes…

(a) Relative to exercise of powers over discretionary and other interests:(1) “Improper motive” means to demonstrate action such as the following:(A) A trustee refusing to make or limiting distributions to beneficiaries other than the trustee due to the trustee's self interest wh…

(a) A trustee, without authorization by the 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 individually owned property;(B) An…

(a) Any references contained in a will or trust incorporating by reference the powers enumerated in § 35-50-110 as they relate to a trustee will incorporate by reference the powers contained in this section. (b) Unless the terms of the instrument expressly provide otherwise and w…

(a) Upon the occurrence of an event terminating or partially terminating a trust, or upon the trustee's removal or resignation, the trustee shall proceed to distribute the trust property to the persons entitled to it within a reasonable period of time, subject to the right of the…

(1) Unless the terms of the instrument expressly provide otherwise:(1) A trustee who has authority, under the terms of a testamentary instrument or irrevocable inter vivos trust agreement, to invade the principal of a trust to make distributions to, or for the benefit of, one (1)…

(a) Unless the terms of a trust instrument expressly provide that a settlor shall not be reimbursed by a trust for the settlor's personal income tax liability attributable to the trust, if the settlor of a trust is treated under 26 U.S.C. § 671 et seq. as the owner of all or part…

(a) When acting in a managerial capacity with respect to a closely held business, including serving as a director, officer, manager, general partner, or other controlling person of such entity, a trustee, trust advisor, or trust protector is not liable for any resulting loss or f…

Title 35, chapter 6 and chapter 14 are incorporated in this chapter by reference.