72-38-804. Prudent administration. A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution.
History: En. Sec. 91, Ch. 264, L. 2013.
Structure Montana Code Annotated
Title 72. Estates, Trusts, and Fiduciary Relationships
Chapter 38. Montana Uniform Trust Code
Part 8. Duties and Powers of Trustee
72-38-801. Duty to administer trust
72-38-804. Prudent administration
72-38-805. Costs of administration
72-38-807. Delegation by trustee
72-38-809. Control and protection of trust property
72-38-810. Recordkeeping and identification of trust property
72-38-811. Enforcement and defense claims
72-38-812. Collecting trust property
72-38-813. Duty to inform and report
72-38-814. Discretionary powers -- tax savings
72-38-815. General powers of trustee
72-38-816. Specific powers of trustee
72-38-817. Distribution upon termination
72-38-818. and 72-38-819 reserved
72-38-821. Distribution under charitable trust or private foundation
72-38-823. Exceptions applicable to split-interest trusts