Printable Format58a-814. Discretionary powers. 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 the interests of the beneficiaries.
History: L. 2002, ch. 133, ยง 71; January 1, 2003.
Law Review and Bar Journal References:
"The Kansas Uniform Trust Code," David M. English, 51 K.L.R. 311 (2003).
"Taking the Trust Out of Trustee: The Kansas Supreme Court's Standard for Reasonable Reliance Means Investors Should Proceed Cautiously when Altering the Prudent Investor Rule [McGinly v. Bank of Am., 109 P.3d 1146 (Kan 2005)]," Justin Whitney, 46 W.L.J. 245 (2006).