58a-817. Distribution upon termination. (a) Upon termination or partial termination of a trust, the trustee may send to the qualified beneficiaries a proposal for distribution. The right of any qualified beneficiary to object to the proposed distribution terminates if the qualified beneficiary does not notify the trustee of an objection within 30 days after the proposal was sent but only if the proposal informed the qualified beneficiary of the right to object and of the time allowed for objection.
(b) Upon the occurrence of an event terminating or partially terminating a trust, the trustee shall proceed expeditiously to distribute the trust property to the persons entitled to it, subject to the right of the trustee to retain a reasonable reserve for the payment of debts, expenses, and taxes.
(c) A release, upon termination or partial termination of a trust, by a beneficiary of a trustee from liability for breach of trust is invalid to the extent:
(1) It was induced by improper conduct of the trustee; or
(2) the beneficiary, at the time of the release, did not know of the beneficiary's rights or of the material facts relating to the breach.
History: L. 2002, ch. 133, ยง 74; Jan. 1, 2003.
Structure Kansas Statutes
Chapter 58a - Kansas Uniform Trust Code
Article 8 - Duties And Powers Of Trustee
58a-801 Duty to administer trust.
58a-804 Prudent administration.
58a-805 Costs of administration.
58a-807 Delegation by trustee.
58a-809 Control and protection of trust property .
58a-810 Recordkeeping and identification of trust property; property acquisition and conveyance.
58a-811 Enforcement and defense of claims.
58a-812 Collecting trust property.
58a-813 Duty to inform and report.
58a-815 General powers of trustee.
58a-816 Specific powers of trustee.