reglab/housing_qa huggingface dataset:
MT Code § 72-38-504 (2021)
2021 Montana Code Annotated|Title 72. Estates, Trusts, and Fiduciary Relationships|Chapter 38. Montana Uniform Trust Code|Part 5. Creditor's Claims -- Spendthrift and Discretionary Trusts|72-38-504. Discretionary trusts -- effect of standard

  72-38-504. Discretionary trusts -- effect of standard. (1) Whether or not a trust contains a spendthrift provision, a creditor of a beneficiary may not compel a distribution that is subject to the trustee's discretion even if:   (a) the discretion is expressed in the form of a standard of distribution; or   (b) the trustee has abused the discretion.   (2) This section does not limit the right of a beneficiary to maintain a judicial proceeding against a trustee for an abuse of discretion or failure to comply with a standard for distribution.   (3) If the trustee's or cotrustee's discretion to make distributions for the trustee's or cotrustee's own benefit is limited by an ascertainable standard, a creditor may not reach or compel distribution of the beneficial interest except to the extent the interest would be subject to the creditor's claim were the beneficiary not acting as trustee or cotrustee.   History: En. Sec. 69, Ch. 264, L. 2013.
MT Code § 72-38-505 (2021)
2021 Montana Code Annotated|Title 72. Estates, Trusts, and Fiduciary Relationships|Chapter 38. Montana Uniform Trust Code|Part 5. Creditor's Claims -- Spendthrift and Discretionary Trusts|72-38-505. Creditor's claim against settlor

  72-38-505. Creditor's claim against settlor. (1) Whether or not the terms of a trust contain a spendthrift provision, the following rules apply:   (a) During the lifetime of the settlor, the property of a revocable trust is subject to claims of the settlor's creditors.   (b) With respect to an irrevocable trust, a creditor or assignee of the settlor may reach the maximum amount that can be distributed to or for the settlor's benefit. If a trust has more than one settlor, the amount the creditor or assignee of a particular settlor may reach may not exceed the settlor's interest in the portion of the trust attributable to that settlor's contribution. A trustee's discretionary authority to pay directly or to reimburse the settlor for any tax that is payable by the settlor on trust income or principal may not be considered to be an amount that can be distributed to or for the settlor's benefit, and a creditor or assignee of the settlor is not entitled to reach any amount solely by reason of this discretionary authority.   (c) After the death of a settlor, and subject to the settlor's right to direct the source from which liabilities will be paid, the property of a trust that was revocable at the settlor's death is subject to claims of the settlor's creditors, costs of administration of the settlor's estate, the expenses of the settlor's funeral and disposal of remains, and statutory allowances to a surviving spouse and children to the extent the settlor's probate estate is inadequate to satisfy those claims, costs, expenses, and allowances.   (2) For purposes of this section:   (a) during the period the power may be exercised, the holder of a power of withdrawal is treated in the same manner as the settlor of a revocable trust to the extent of the property subject to the power; and   (b) upon the lapse, release, or waiver of the power, the holder is treated as the settlor of the trust only to the extent the value of the property affected by the lapse, release, or waiver exceeds the greater of the amount specified in section 2041(b)(2) or 2514(e) of the Internal Revenue Code of 1986, or section 2503(b) of the Internal Revenue Code of 1986, in each case as in effect on the effective date of this chapter or as later amended.   History: En. Sec. 70, Ch. 264, L. 2013.
MT Code § 72-38-506 (2021)
2021 Montana Code Annotated|Title 72. Estates, Trusts, and Fiduciary Relationships|Chapter 38. Montana Uniform Trust Code|Part 5. Creditor's Claims -- Spendthrift and Discretionary Trusts|72-38-506. Overdue distribution

  72-38-506. Overdue distribution. (1) (a) In this section, "mandatory distribution" means a distribution of income or principal that the trustee is required to make to a beneficiary under the terms of the trust, including a distribution upon termination of the trust.   (b) The term does not include a distribution subject to the exercise of the trustee's discretion even if:   (i) the discretion is expressed in the form of a standard of distribution; or   (ii) the terms of the trust authorizing a distribution couple language of discretion with language of direction.   (2) Whether or not a trust contains a spendthrift provision, a creditor or assignee of a beneficiary may reach a mandatory distribution of income or principal, including a distribution upon termination of the trust, if the trustee has not made the distribution to the beneficiary within a reasonable time after the designated distribution date.   History: En. Sec. 71, Ch. 264, L. 2013.
MT Code § 72-38-507 (2021)
2021 Montana Code Annotated|Title 72. Estates, Trusts, and Fiduciary Relationships|Chapter 38. Montana Uniform Trust Code|Part 5. Creditor's Claims -- Spendthrift and Discretionary Trusts|72-38-507. Personal obligations of trustee

  72-38-507. Personal obligations of trustee. Trust property is not subject to personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt.   History: En. Sec. 72, Ch. 264, L. 2013.
MT Code § 72-38-601 (2021)
2021 Montana Code Annotated|Title 72. Estates, Trusts, and Fiduciary Relationships|Chapter 38. Montana Uniform Trust Code|Part 6. Revocable Trusts|72-38-601. Capacity of settlor of revocable trust

  72-38-601. Capacity of settlor of revocable trust. The capacity required to create, amend, revoke, or add property to a revocable trust or to direct the actions of the trustee of a revocable trust is the same as that required to make a will.   History: En. Sec. 73, Ch. 264, L. 2013.
MT Code § 72-38-602 (2021)
2021 Montana Code Annotated|Title 72. Estates, Trusts, and Fiduciary Relationships|Chapter 38. Montana Uniform Trust Code|Part 6. Revocable Trusts|72-38-602. Revocation or amendment of revocable trust

  72-38-602. Revocation or amendment of revocable trust. (1) Unless the terms of a trust expressly provide that the trust is irrevocable, the settlor may revoke or amend the trust. This subsection does not apply to a trust created under an instrument executed before October 1, 1989.   (2) If a revocable trust is created or funded by more than one settlor:   (a) to the extent the trust consists of community property, the trust may be revoked by either party acting alone but may be amended only by joint action of both parties;   (b) to the extent the trust consists of property other than community property, each settlor may revoke or amend the trust with regard the portion of the trust property attributable to that settlor's contribution; and   (c) upon the revocation or amendment of the trust by fewer than all of the settlors, the trustee shall promptly provide notice to the other settlors of the revocation or amendment.   (3) The settlor may revoke or amend a revocable trust:   (a) by substantial compliance with a method provided in the terms of the trust; or   (b) if the terms of the trust do not provide a method, by a writing delivered to the trustee manifesting clear and convincing evidence of the settlor's intent.   (4) Upon revocation of a revocable trust, the trustee shall deliver the trust property as the settlor directs. However, with respect to community property under subsection (2)(a), the trustee shall deliver the property to the respective spouses, proportionate to their respective shares of the community property as prescribed by the laws of the state out of which the community property interest arose, and the nonrevoking spouse may elect to have the trust continue with respect to that spouse's share of the community property.   (5) A settlor's powers with respect to revocation, amendment, or distribution of trust property may be exercised by an agent under a power of attorney only to the extent expressly authorized by the terms of the trust and the power of attorney.   (6) A conservator of the settlor or, if no conservator has been appointed, a guardian of the settlor may exercise a settlor's powers with respect to revocation, amendment, or distribution of trust property only with the approval of the court supervising the conservatorship or guardianship.   (7) A trustee who does not know that a trust has been revoked or amended is not liable to the settlor or settlor's successors in interest for distributions made and other actions taken on the assumption that the trust had not been amended or revoked.   History: En. Sec. 74, Ch. 264, L. 2013.
MT Code § 72-38-603 (2021)
2021 Montana Code Annotated|Title 72. Estates, Trusts, and Fiduciary Relationships|Chapter 38. Montana Uniform Trust Code|Part 6. Revocable Trusts|72-38-603. Settlor's powers -- powers of withdrawal

  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.
MT Code § 72-38-604 (2021)
2021 Montana Code Annotated|Title 72. Estates, Trusts, and Fiduciary Relationships|Chapter 38. Montana Uniform Trust Code|Part 6. Revocable Trusts|72-38-604. Limitation on action contesting validity of revocable trust -- distribution of trust property

  72-38-604. Limitation on action contesting validity of revocable trust -- distribution of trust property. (1) A person may commence a judicial proceeding to contest the validity of a trust that was revocable at the settlor's death within the earlier of:   (a) 3 years after the settlor's death; or   (b) 120 days after the trustee sent the person a copy of the trust instrument and a notice informing the person of the trust's existence, of the trustee's name and address, and of the time allowed for commencing a proceeding.   (2) Upon the death of the settlor of a trust that was revocable at the settlor's death, the trustee may proceed to distribute the trust property in accordance with the terms of the trust. The trustee is not subject to liability for doing so unless:   (a) the trustee knows of a pending judicial proceeding contesting the validity of the trust; or   (b) a potential contestant has notified the trustee of a possible judicial proceeding to contest the trust and a judicial proceeding is commenced within 60 days after the contestant sent the notification.   (3) A beneficiary of a trust that is determined to have been invalid is liable to return any distribution received.   History: En. Sec. 76, Ch. 264, L. 2013.
MT Code § 72-38-605 (2021)
2021 Montana Code Annotated|Title 72. Estates, Trusts, and Fiduciary Relationships|Chapter 38. Montana Uniform Trust Code|Part 6. Revocable Trusts|72-38-605. Fees and expenses -- by whom paid

  72-38-605. Fees and expenses -- by whom paid. When the validity of a trust that was revocable at the settlor's death is contested through a judicial proceeding, the attorney fees and costs, as provided in 25-10-201, incurred in defending the validity of the trust must be paid by the party contesting the validity of the trust if the trust is found valid. If the trust is found invalid, costs as provided in 25-10-201, but not attorney fees of the objecting party, must be paid by the party who defended the validity of the trust or out of the trust property, as the court directs.   History: En. Sec. 77, Ch. 264, L. 2013.
MT Code § 72-38-606 (2021)
2021 Montana Code Annotated|Title 72. Estates, Trusts, and Fiduciary Relationships|Chapter 38. Montana Uniform Trust Code|Part 6. Revocable Trusts|72-38-606. Separate writing identifying disposition of tangible personal property

  72-38-606. Separate writing identifying disposition of tangible personal property. (1) A revocable trust instrument may refer to a written statement or list to dispose of items of tangible personal property not otherwise specifically disposed of by the trust, other than money.   (2) To be admissible under this section as evidence of the intended disposition, the writing must be signed by the settlor and must describe the items and the devisees with reasonable certainty.   (3) The writing may be:   (a) referred to as one to be in existence at the time of the settlor's death;   (b) prepared before or after the execution of the trust;   (c) altered by the settlor after its preparation; and   (d) a writing that has no significance apart from its effect upon the dispositions made by the trust.   History: En. Sec. 78, Ch. 264, L. 2013.
MT Code § 72-38-701 (2021)
2021 Montana Code Annotated|Title 72. Estates, Trusts, and Fiduciary Relationships|Chapter 38. Montana Uniform Trust Code|Part 7. Office of Trustee|72-38-701. Accepting or declining trusteeship

  72-38-701. Accepting or declining trusteeship. (1) Except as otherwise provided in subsection (3), a person designated as trustee accepts the trusteeship:   (a) by substantially complying with a method of acceptance provided in the terms of the trust; or   (b) if the terms of the trust do not provide a method or the method provided in the terms is not expressly made exclusive, by accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance of the trusteeship.   (2) A person designated as trustee who has not yet accepted the trusteeship may reject the trusteeship. A designated trustee who does not accept the trusteeship within a reasonable time after knowing of the designation is considered to have rejected the trusteeship.   (3) A person designated as trustee, without accepting the trusteeship, may:   (a) act to preserve the trust property if, within a reasonable time after acting, the person sends a rejection of the trusteeship to the settlor or, if the settlor is dead or lacks capacity, to a qualified beneficiary; and   (b) inspect or investigate trust property to determine potential liability under environmental or other law or for any other purpose.   History: En. Sec. 79, Ch. 264, L. 2013.
MT Code § 72-38-702 (2021)
2021 Montana Code Annotated|Title 72. Estates, Trusts, and Fiduciary Relationships|Chapter 38. Montana Uniform Trust Code|Part 7. Office of Trustee|72-38-702. Trustee's bond

  72-38-702. Trustee's bond. (1) A trustee shall give bond to secure performance of the trustee's duties only if the court finds that a bond is needed to protect the interests of the beneficiaries or is required by the terms of the trust and the court has not dispensed with the requirement.   (2) The court may specify the amount of a bond, its liabilities, and whether sureties are necessary. The court may modify or terminate a bond at any time.   (3) A regulated financial-service institution qualified to do trust business in this state need not give bond, even if required by the terms of the trust.   History: En. Sec. 80, Ch. 264, L. 2013.
MT Code § 72-38-703 (2021)
2021 Montana Code Annotated|Title 72. Estates, Trusts, and Fiduciary Relationships|Chapter 38. Montana Uniform Trust Code|Part 7. Office of Trustee|72-38-703. Cotrustees

  72-38-703. Cotrustees. (1) Cotrustees who are unable to reach a unanimous decision may act by majority decision.  (2) If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust.   (3) Subject to 72-40-116, a cotrustee shall participate in the performance of a trustee's function unless the cotrustee is unavailable to perform the function because of absence, illness, disqualification under other law, or other temporary incapacity or the cotrustee has properly delegated the performance of the function to another trustee.   (4) If a cotrustee is unavailable to perform duties because of absence, illness, disqualification under other law, or other temporary incapacity and prompt action is necessary to achieve the purposes of the trust or to avoid injury to the trust property, the remaining cotrustee or a majority of the remaining cotrustees may act for the trust.   (5) A trustee may not delegate to a cotrustee the performance of a function the settlor reasonably expected the trustees to perform jointly. Unless a delegation was irrevocable, a trustee may revoke a delegation previously made.   (6) Except as otherwise provided in subsection (7), a trustee who does not join in an action of another trustee is not liable for the action.   (7) Subject to 72-40-116, each trustee shall exercise reasonable care to:   (a) prevent a cotrustee from committing a serious breach of trust; and   (b) compel a cotrustee to redress a serious breach of trust.   (8) A dissenting trustee who joins in an action at the direction of the majority of the trustees and who notifies any cotrustee of the dissent at or before the time of the action is not liable for the action unless the action is a serious breach of trust.   History: En. Sec. 81, Ch. 264, L. 2013; amd. Sec. 23, Ch. 325, L. 2021.
MT Code § 72-38-704 (2021)
2021 Montana Code Annotated|Title 72. Estates, Trusts, and Fiduciary Relationships|Chapter 38. Montana Uniform Trust Code|Part 7. Office of Trustee|72-38-704. Vacancy in trusteeship -- appointment of successor

  72-38-704. Vacancy in trusteeship -- appointment of successor. (1) A vacancy in a trusteeship occurs if:   (a) a person designated as trustee rejects the trusteeship;   (b) a person designated as trustee cannot be identified or does not exist;   (c) a trustee resigns;   (d) a trustee is disqualified or removed;   (e) a trustee dies;   (f) a guardian or conservator is appointed for an individual serving as trustee; or   (g) a trustee has been ordered committed as provided in 53-21-102.   (2) If one or more cotrustees remain in office, a vacancy in a trusteeship need not be filled. A vacancy in a trusteeship must be filled if the trust has no remaining trustee.   (3) A vacancy in a trusteeship of a trust that is required to be filled must be filled in the following order of priority:   (a) by a person designated in the terms of the trust to act as successor trustee;   (b) by a person appointed by unanimous agreement of the qualified beneficiaries; or   (c) by a person appointed by the court.   (4) Whether or not a vacancy in a trusteeship exists or is required to be filled, the court may appoint an additional trustee or special fiduciary whenever the court considers the appointment necessary for the administration of the trust.   History: En. Sec. 82, Ch. 264, L. 2013.
MT Code § 72-38-705 (2021)
2021 Montana Code Annotated|Title 72. Estates, Trusts, and Fiduciary Relationships|Chapter 38. Montana Uniform Trust Code|Part 7. Office of Trustee|72-38-705. Resignation of trustee

  72-38-705. Resignation of trustee. (1) A trustee may resign:   (a) upon at least 30 days' notice to the qualified beneficiaries, the settlor, if living, and all cotrustees; or   (b) with the approval of the court.   (2) In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.   (3) Any liability of a resigning trustee or of any sureties on the trustee's bond for acts or omissions of the trustee is not discharged or affected by the trustee's resignation.   History: En. Sec. 83, Ch. 264, L. 2013.
MT Code § 72-38-706 (2021)
2021 Montana Code Annotated|Title 72. Estates, Trusts, and Fiduciary Relationships|Chapter 38. Montana Uniform Trust Code|Part 7. Office of Trustee|72-38-706. Removal of trustee

  72-38-706. Removal of trustee. (1) The settlor, a cotrustee, or a beneficiary may request the court to remove a trustee, or a trustee may be removed by the court on its own initiative.   (2) The court may remove a trustee if:   (a) the trustee has committed a serious breach of trust;   (b) lack of cooperation among cotrustees substantially impairs the administration of the trust;   (c) because of unfitness, unwillingness, or persistent failure of the trustee to administer the trust effectively and impartially, the court determines that removal of the trustee best serves the interests of the beneficiaries; or   (d) there has been a substantial change of circumstances or removal is requested by all of the qualified beneficiaries, the court finds that removal of the trustee best serves the interests of all of the beneficiaries and is not inconsistent with a material purpose of the trust, and a suitable cotrustee or successor trustee is available.   (3) Pending a final decision on a request to remove a trustee or in lieu of or in addition to removing a trustee, the court may order appropriate relief under 72-38-1001(2) as may be necessary to protect the trust property or the interests of the beneficiaries.   History: En. Sec. 84, Ch. 264, L. 2013.
MT Code § 72-38-707 (2021)
2021 Montana Code Annotated|Title 72. Estates, Trusts, and Fiduciary Relationships|Chapter 38. Montana Uniform Trust Code|Part 7. Office of Trustee|72-38-707. Delivery of property by former trustee

  72-38-707. Delivery of property by former trustee. (1) Unless a cotrustee remains in office or the court otherwise orders, and until the trust property is delivered to a successor trustee or other person entitled to it, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the trust property.   (2) A trustee who has resigned or been removed shall proceed expeditiously to deliver the trust property within the trustee's possession to the cotrustee, successor trustee, or other person entitled to it. If a trustee fails to deliver trust property as required in this subsection:   (a) the resigned or removed trustee is personally liable for the actual damages incurred as a result of the failure to deliver trust property; and   (b) the court, in its discretion, may order the resigned or removed trustee personally to pay the reasonable attorney fees incurred in enforcing the resigned or removed trustee's duty to deliver trust property.   History: En. Sec. 85, Ch. 264, L. 2013.
MT Code § 72-38-708 (2021)
2021 Montana Code Annotated|Title 72. Estates, Trusts, and Fiduciary Relationships|Chapter 38. Montana Uniform Trust Code|Part 7. Office of Trustee|72-38-708. Compensation of trustee

  72-38-708. Compensation of trustee. (1) If the terms of a trust do not specify the trustee's compensation, a trustee is entitled to compensation that is reasonable under the circumstances.   (2) If the terms of a trust specify the trustee's compensation, the trustee is entitled to be compensated as specified, but the court may allow more or less compensation if:   (a) the duties of the trustee are substantially different from those contemplated when the trust was created; or   (b) the compensation specified by the terms of the trust would be unreasonably low or high.   History: En. Sec. 86, Ch. 264, L. 2013.