Source: https://dcmetrotrustcode.com/section/utc-%C2%A7-105/
Timestamp: 2019-11-15 20:01:02
Document Index: 575331072

Matched Legal Cases: ['§ 105', '§105', '§19', '§19', '§19', '§19', '§105', '§203', '§19', '§14', '§64', '§14', '§14', '§708', '§19', '§64', '§14', '§14', '§105', '§14', '§64', '§64', '§64', '§64', '§ 105', '§ 19', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 64', '§ 64', '§ 64', '§ 64', '§ 64', '§ 64', '§ 64']

UTC § 105 | DC Metro Trust Code
Generally, UTC §105 provides that the terms of a trust cannot alter the duty of the trustee to respond to the request of a [qualified] beneficiary age 25 or older of an irrevocable trust for trustee’s reports and other information reasonably related to the administration of the trust.
DC §19-1301.05(b)(9) omits the bracketed word “qualified,” with the effect that any beneficiary can request reports and other information from the trustee. However, DC §19-1301.05(c) allows the settlor to waive or modify the duties of a trustee to give notice, information and reports to beneficiaries by (1) waiving or modifying such duties during the lifetime of the settlor or the lifetime of the settlor’s surviving spouse, (2) specifying a different age at which a beneficiary of class of beneficiaries must be notified under DC §19-1308.13(b)(2) and (3), or (3) designating a person or persons to act in good faith to protect the interest of beneficiaries to receive any notice, information or reports in lieu of providing such notice, information or reports (under DC §19-1308.13) to the beneficiaries.
UTC §105(b)(14) provides that the terms of a trust cannot alter the subject-matter jurisdiction of the court and venue for commencing a proceeding as provided in §§203 and 204. DC §19-1301.05, MD §14.5-105 and VA §64.2-703(B) do not include this mandatory rule, which suggests that the terms of a trust can alter the subject-matter jurisdiction of the court and venue for commencing a proceeding.
MD §14.5-813(a) and (c) entitle only “qualified” beneficiaries to information and reports from the trustee upon request. MD §14.5-105(10) contains a mandatory rule omitted from the UTC; it provides that the terms of the trust cannot alter the duty of the trustee to notify the “qualified” beneficiaries (age 25 or older) of an irrevocable trust of their rights to: know of the existence of a trust; know the identity of the trustee; request reports; request a copy of the trust instrument; and, receive other information reasonably related to the trust administration.
UTC §708(b) provides that the terms of a trust cannot supersede the court’s power to adjust a trustee’s compensation which is unreasonably low or high. Both DC §19-1301.05(b)(7) and VA §64.2-703(B)(7) include this UTC provision. MD §14.5-105(8), however, omits reference to compensation specified in the trust; rather, it simply states that the terms of a trust cannot alter the power of the court under MD §14.5-708(a) to increase or decrease the commissions of a trustee.
UTC §105(b)(12) provides that the terms of a trust cannot alter the periods of limitation for commencing a judicial proceeding. MD §14.5-105 does not include this mandatory rule, which suggests that the terms of a trust can alter the periods of limitation for commencing a judicial proceeding.
VA §64.2-703(B) does not prohibit the terms of a trust from altering or negating the duty of the trustee (under VA §64.2-775) to respond to beneficiaries’ requests for reports and other information. In addition, VA §64.2-703(B) omits the UTC provision prohibiting the terms of a trust from waiving the trustee’s duty (under VA §64.2-775) to notify qualified beneficiaries (age 25 or older) of an irrevocable trust of the existence of the trust, the identity of the trustee, and of their right to request trustee’s reports.
§ 105. Default and mandatory rules.
(a) Except as otherwise provided in the terms of the trust, this [Code] governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary.
(b) The terms of a trust prevail over any provision of this [Code] except:
(3) the requirement that a trust and its terms be for the benefit of its beneficiaries, and that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve;
(4) the power of the court to modify or terminate a trust under Sections 410 through 416;
(5) the effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in [Article] 5;
(6) the power of the court under Section 702 to require, dispense with, or modify or terminate a bond;
(7) the power of the court under Section 708(b) to adjust a trustee’s compensation specified in the terms of the trust which is unreasonably low or high;
[(8) the duty under Section 813(b)(2) and (3) to notify qualified beneficiaries of an irrevocable trust who have attained 25 years of age of the existence of the trust, of the identity of the trustee, and of their right to request trustee’s reports;]
[(9) the duty under Section 813(a) to respond to the request of a [qualified] beneficiary of an irrevocable trust for trustee’s reports and other information reasonably related to the administration of a trust;]
(10) the effect of an exculpatory term under Section 1008;
(11) the rights under Sections 1010 through 1013 of a person other than a trustee or beneficiary;
(12) periods of limitation for commencing a judicial proceeding; [and]
(13) the power of the court to take such action and exercise such jurisdiction as may be necessary in the interests of justice [; and
(14) the subject-matter jurisdiction of the court and venue for commencing a proceeding as provided in Sections 203 and 204].
§ 19-1301.05. Default and mandatory rules.
(a) Except as otherwise provided in the terms of the trust, this chapter governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary.
(2) The duty of a trustee to act in good faith and in accordance with the purposes of the trust [MISSING "AND THE INTERESTS OF THE BENEFICIARY];
(4) The power of the court to modify or terminate a trust under sections 19-1304.10 through 19-1304.16;
(5) The effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in subchapter V of this chapter;
(6) The power of the court under section 19-1307.02 to require, dispense with, or modify or terminate a bond;
(7) The power of the court under section 19-1307.08(b) to adjust a trustee's compensation specified in the terms of the trust which is unreasonably low or high;
(8) Subject to subsection (c) of this section, the duty under section 19-1308.13(b)(2) and (3) to notify qualified beneficiaries of an irrevocable trust who have attained 25 years of age of the existence of the trust, the identity of the trustee, and their right to request the trustee's reports;
(9) Subject to subsection (c) of this section, the duty under section 19-1308.13(a) to respond to the request of a [MISSING "QUALIFIED"] beneficiary of an irrevocable trust for trustee's reports and other information reasonably related to the administration of a trust;
(10) The effect of an exculpatory term under section 19-1310.08;
(11) The rights under sections 19-1310.10 through 19-1310.13 of a person other than a trustee or beneficiary;
(12) Periods of limitation for commencing a judicial proceeding; and
(13) The power of the court to take such action and exercise such jurisdiction as may be necessary in the interests of justice.
(c) The settlor, in the trust instrument or in another writing delivered to the trustee, may waive or modify the duties of a trustee under section 19-1308.13 to give notice, information, and reports to beneficiaries by:
(1) Waiving or modifying such duties during the lifetime of the settlor or the lifetime of the settlor's surviving spouse;
(2) Specifying a different age at which a beneficiary or class of beneficiaries must be notified under section 19-1308.13(b)(2) and (3); or
(3) Designating a person or persons to act in good faith to protect the interests of beneficiaries, to receive any notice, information, or reports required under section 19-1308.13 in lieu of providing such notice, information, or reports to the beneficiaries.
[MISSING UTC(b)(14)]
§ 14.5–105. Terms of trust prevail -- Exceptions.
The terms of a trust prevail over a provision of this title, except:
(2) The duty of a trustee to act reasonably under the circumstances [SUBSTITUTED FOR "IN GOOD FAITH"] and in accordance with the terms and purposes of the trust and the interests of the beneficiaries;
(3) The requirement that a trust and the terms of the trust be for the benefit of the beneficiaries of the trust and that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve;
(4) The prohibition under § 14.5-306 of this title against a person serving as a representative of a beneficiary of a trust when that person is serving as a trustee of the same trust;
(5) The power of the court to modify or terminate a trust under §§ 14.5–410, § 14.5–411, § 14.5–413, and § 14.5–414 of this title;
(6) [MISSING "THE EFFECT OF A SPENDTHRIFT TRUST PROVISIONS AND"] The rights of certain creditors and assignees to reach a trust as provided in subtitle 5 of this title;
(7) The power of the court under § 14.5–702 of this title to require, dispense with, modify or terminate a bond;
(8) The subject matter jurisdiction and venue for commencing a proceeding as provided by the laws of this State;
(9) The power of the court under § 14.5–708(a) of this title to increase or decrease the commissions [SUBSTITUTED FOR "COMPENSATION"] of a trustee [MISSING "SPECIFIED IN THE TERMS OF THE TRUST WHICH IS UNREASONABLY LOW OR HIGH"];
(10) The duties to provide information, copies, and notices specified under § 14.5–813(a) and (c) of this title;
(11) The duty under § 14.5–813(a) and (b) of this title to:
(i) Notify qualified beneficiaries of an irrevocable trust who have attained 25 years of age of the existence of the trust, the identity of the trustee, and their right to request trustee’s reports and a copy of the trust; and (ii) Respond to the request of a qualified beneficiary of an irrevocable trust for reports by the trustee and other information reasonably related to the administration of the trust;
(12) The effect of an exculpatory term under § 14.5–906 of this title;
(13) The rights under §§ 14.5–908 through § 14.5–910 of this title of a person other than a trustee or beneficiary; and
(14) The power of the court to take an action and exercise jurisdiction as may be necessary in the interests of justice.
(15) [tracks UTC(b)(12):] Periods of limitation for bringing [UTC says 'commencing'] a judicial action.
§ 64.2-703. Default and mandatory rules
2. The duty of a trustee to act in good faith and in accordance with the terms and purposes of the trust and the interests of the beneficiaries;
4. The power of the court to modify or terminate a trust under §§ 64.2-728 through 64.2-734;
5. The effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in Article 5 (§ 64.2-742 et seq.);
6. The power of the court under § 64.2-755 to require, dispense with, or modify or terminate a bond;
7. The power of the court under subsection B of § 64.2-761 to adjust a trustee's compensation specified in the terms of the trust that is unreasonably low or high;
[MISSING UTC(b)(8) AND (9)]
8. The effect of an exculpatory term under § 64.2-799;
9. The rights under §§ 64.2-801 through 64.2-804 of a person other than a trustee or beneficiary;