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Utah Statutes, Title 75B

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Utah/Statutes

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Title 75B, Trusts

3 chapters · 145 sections in this title.

All chapters in Title 75B145 Ch 75B-2, Uniform Trust Code112 Ch 75B-3, Uniform Directed Trust Act17 Ch 75B-1, General Provisions16

112 sections·Filtered byTitle 75B✕Ch 75B-2✕

Utah Code § 75B-2-813 General powers of trustee.
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75B-2-813. 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 that an unmarried competent owner has …
Utah Code § 75B-2-814 Specific powers of trustee.
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75B-2-814. Specific powers of trustee. (1) Without limiting the authority conferred by Section 75B-2-813, 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 o…
Utah Code § 75B-2-815 Distribution upon termination.
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75B-2-815. Distribution upon termination. (1)(a) Upon termination or partial termination of a trust, the trustee may send to the beneficiaries a proposal for distribution. (b) The right of any beneficiary to object to the proposed distribution terminates if the beneficiary does n…
Utah Code § 75B-2-816 Recitals when title to real property is in trust -- Failure.

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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: (a) in the deed of transfer; or (b) in an instrument signed by the grantor and recorded in the sa…

Utah Code § 75B-2-817 Marital deduction formulas -- Trusts.

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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…

Utah Code § 75B-2-901 Prudent investor rule.

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75B-2-901. Prudent investor rule. (1)(a) Except as otherwise provided in Subsection (2), 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. (b) If a trustee is named on t…

Utah Code § 75B-2-902 Standard of care -- Portfolio strategy -- Risk and return objectives.

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75B-2-902. Standard of care -- Portfolio strategy -- Risk and return objectives. (1)(a) 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. (b) In satisfyi…

Utah Code § 75B-2-903 Diversification.

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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.

Utah Code § 75B-2-904 Duties at inception of trusteeship.

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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…

Utah Code § 75B-2-905 Reviewing compliance.

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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.

Utah Code § 75B-2-906 Investment direction.

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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 Subsection (2) to do any of the following with respect to an investment: (a…

Utah Code § 75B-2-907 Language invoking standard of chapter.

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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…