72-38-603. Settlor's powers -- powers of withdrawal. (1) To the extent a trust is revocable by a settlor, a trustee may follow a direction of the settlor that is contrary to the terms of the trust. To the extent a trust is revocable by a settlor in conjunction with a person other than a trustee or person holding an adverse interest, the trustee may follow a direction from the settlor and the other person holding the power to revoke even if the direction is contrary to the terms of the trust.
(2) To the extent a trust is revocable, rights of the beneficiaries are subject to the control of the settlor and the duties of the trustee, including the duty to provide notice, are owed exclusively to the settlor.
(3) During the period the power may be exercised, the holder of a power of withdrawal has the rights of a settlor of a revocable trust under this section to the extent of the property subject to the power.
History: En. Sec. 75, Ch. 264, L. 2013; amd. Sec. 22, Ch. 325, L. 2021.
Structure Montana Code Annotated
Title 72. Estates, Trusts, and Fiduciary Relationships
Chapter 38. Montana Uniform Trust Code
72-38-601. Capacity of settlor of revocable trust
72-38-602. Revocation or amendment of revocable trust
72-38-603. Settlor's powers -- powers of withdrawal
72-38-605. Fees and expenses -- by whom paid
72-38-606. Separate writing identifying disposition of tangible personal property