(a) While a trust isrevocable, the trustee may follow a direction of the settlor that is notauthorized by or is contrary to the terms of the trust, even if by doing so (i)the trustee exceeds the authority granted to the trustee under the terms of thetrust, or (ii) the trustee would otherwise violate a duty the trustee owesunder the trust.
(b) If the terms of atrust confer upon a person other than the settlor of a revocable trust power todirect certain actions of the trustee, the trustee must act in accordance withan exercise of the power unless the attempted exercise is manifestly contraryto the terms of the trust, or the trustee knows the attempted exercise wouldconstitute a serious breach of a fiduciary duty that the person holding thepower owes to the beneficiaries of the trust.
(c) The terms of atrust may confer upon a trustee or other person a power to direct themodification or termination of the trust.
(d) A person, otherthan a beneficiary, who holds a power to direct is presumptively a fiduciarywho, as such, is required to act in good faith with regard to the purposes ofthe trust and the interests of the beneficiaries. The holder of a power todirect is liable for any loss that results from breach of a fiduciary duty. (2005‑192, s. 2; 2007‑106,s. 34.)
(a) While a trust isrevocable, the trustee may follow a direction of the settlor that is notauthorized by or is contrary to the terms of the trust, even if by doing so (i)the trustee exceeds the authority granted to the trustee under the terms of thetrust, or (ii) the trustee would otherwise violate a duty the trustee owesunder the trust.
(b) If the terms of atrust confer upon a person other than the settlor of a revocable trust power todirect certain actions of the trustee, the trustee must act in accordance withan exercise of the power unless the attempted exercise is manifestly contraryto the terms of the trust, or the trustee knows the attempted exercise wouldconstitute a serious breach of a fiduciary duty that the person holding thepower owes to the beneficiaries of the trust.
(c) The terms of atrust may confer upon a trustee or other person a power to direct themodification or termination of the trust.
(d) A person, otherthan a beneficiary, who holds a power to direct is presumptively a fiduciarywho, as such, is required to act in good faith with regard to the purposes ofthe trust and the interests of the beneficiaries. The holder of a power todirect is liable for any loss that results from breach of a fiduciary duty. (2005‑192, s. 2; 2007‑106,s. 34.)
(a) While a trust isrevocable, the trustee may follow a direction of the settlor that is notauthorized by or is contrary to the terms of the trust, even if by doing so (i)the trustee exceeds the authority granted to the trustee under the terms of thetrust, or (ii) the trustee would otherwise violate a duty the trustee owesunder the trust.
(b) If the terms of atrust confer upon a person other than the settlor of a revocable trust power todirect certain actions of the trustee, the trustee must act in accordance withan exercise of the power unless the attempted exercise is manifestly contraryto the terms of the trust, or the trustee knows the attempted exercise wouldconstitute a serious breach of a fiduciary duty that the person holding thepower owes to the beneficiaries of the trust.
(c) The terms of atrust may confer upon a trustee or other person a power to direct themodification or termination of the trust.
(d) A person, otherthan a beneficiary, who holds a power to direct is presumptively a fiduciarywho, as such, is required to act in good faith with regard to the purposes ofthe trust and the interests of the beneficiaries. The holder of a power todirect is liable for any loss that results from breach of a fiduciary duty. (2005‑192, s. 2; 2007‑106,s. 34.)
