Title 75B, Title 75B: Trusts

75B-2-816. 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: in the deed of transfer; or in an instrument signed by the grantor and recorded in the same offic…

75B-2-817. 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…

75B-2-901. Prudent investor rule. (1) Except as otherwise provided in Subsection, a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule described in this chapter. (2) If a trustee is named on the basi…

75B-2-902. Standard of care -- Portfolio strategy -- Risk and return objectives. (1) A trustee shall invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust. In satisfying this…

75B-2-903. Diversification. A trustee shall diversify the investments of the trust unless the trustee reasonably determines that, because of special circumstances, the purposes of the trust are better served without diversifying.

75B-2-904. Duties at inception of trusteeship. Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets, in order to bring the trus…

75B-2-905. Reviewing compliance. (1) Compliance with the prudent investor rule is determined in light of the facts and circumstances existing at the time of a trustee's decision or action and not by hindsight. (2) This section does not require a specific outcome in investing.

75B-2-906. Investment direction. (1) As used in this section, "investment direction" means a direction that is binding on the trustee, except for an investment direction given by a settlor as described in Subsectionto do any of the following with respect to an investment: (2) ret…

75B-2-907. Language invoking standard of chapter. The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorizes any investment or strategy permitted under this chapter: "investments permissible by law for investment of t…