2023 Statutes Index

Duties:

Costs to be reasonable, 701.0805

Delegation of, 701.0807

Directed trust property, 701.0902

Enforcement and defense of claims, 701.0811

Exercise of skills, 701.0806

Good faith, 701.0801

Impartiality, 701.0803

Loyalty, 701.0802

Protection and control of property, 701.0809

Prudence, 701.0804

Record keeping, 701.0810

Reporting to beneficiaries, 701.0813

Successor trustee, collection of property, 701.0812

Estate tax, personal liability, 72.21

Expenses:

Reasonableness required, 701.0805

Reimbursement, 701.0709

Fiduciary law, Ch. 112

Income tax, see Taxation—8. Income and Franchise Tax

Institutional funds, uniform prudent management act, 112.11

Insurable interest, 701.0113

Liability:

Breach of trust, see Breach of trust under this subhead

Damages in absence of breach, 701.1003

Events affection administration, lack of knowledge, 701.1007

Limitation of trustees personal liability, 701.1010

Trustee with interest as general partner, 701.1011

Persons dealing with trustees, protection of, 701.1012

Powers:

Discretionary powers, tax savings, 701.0814

Distribution upon termination, 701.0817

General powers, 701.0815

Marital deduction transfers, 701.0819

Presumed when not recorded, 706.08 (4)

Settlor's power to direct, 701.0808

Removal, 701.0706

Delivery of property by former trustee, 701.0707

Resignation, 701.0705

Spouses, dealing with, protection of, 766.575

Successor trustees, 701.0704

Duty to collect property, 701.0812

Liability for breach of trust, 701.1003

Suit in own name, 803.01 (2)

Testamentary:

Letters of trust, 856.29

Powers suspended during war service, 112.02

Termination, distribution, 701.0817

Theft by, 943.20

Trust companies as trustees, see Financial Institutions—12. Trust Companies

Trust property, titling in trustee's name, 701.0710

Trusteeship, accepting or declining, 701.0701

Vacancy, successor appointment, 701.0704

Vehicles, transfer of ownership, 342.17 (4)

trusts_4. uniform powers of appointment act 4. Uniform Powers of Appointment Act

Applicability, 702.604

Contract power, 702.405, 702.406

Breach, remedy for, 702.407

Creation, revocation, and amendment:

Classification rules, 702.205

Creation, 702.201

Nontransferability, 702.202

Revoke or amend, 702.206

Unlimited authority presumption, 702.203

Exception, 702.204

Disclaimer, 702.401

Electronic signatures in Global and National Commerce Act, 702.603

Exercise of power of appointment:

Capture doctrine, 702.309

Deceased appointee, 702.306

Donor-imposed requirements, 702.304

Impermissible appointment, 702.307

Intent, 702.302, 702.303

Permissible appointment, 702.305

Powerholder's authority to revoke or amend, 702.314

Presumption of nonexercise, 702.315

Requisites, 702.301

Selective allocation doctrine, 702.308

Taker in default, 702.313

Unappointed property, disposition of, 702.310, 702.311, 702.312

Powerholder's creditors rights:

General, 702.501, 702.502

Good faith protection, 702.505

Nongeneral power of appointment, 702.504

Withdraw, power to, 702.503

Recording instruments, 702.601

Release:

Authority, 702.402

Method, 702.403