reglab/statecodes huggingface dataset:
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 4: CREATION, VALIDITY, MODIFICATION AND TERMINATION OF TRUST › 18-B §408. Trust for care of animal

§408. Trust for care of animal
1.  To provide care for animal; termination.
A trust may be created to provide for the care of an animal alive during the settlor's lifetime. The trust terminates upon the death of the animal or, if the trust was created to provide for the care of more than one animal alive during the settlor's lifetime, upon the death of the last surviving animal.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Enforcement.
A trust authorized by this section may be enforced by a person appointed in the terms of the trust or, if no person is so appointed, by a person appointed by the court. A person having an interest in the welfare of the animal may request the court to appoint a person to enforce the trust or to remove a person appointed.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
3.  Intended use of property.
Property of a trust authorized by this section may be applied only to its intended use, except to the extent the court determines that the value of the trust property exceeds the amount required for the intended use. Except as otherwise provided in the terms of the trust, property not required for the intended use must be distributed to the settlor, if then living, otherwise, to the settlor's successors in interest.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 4: CREATION, VALIDITY, MODIFICATION AND TERMINATION OF TRUST › 18-B §409. Noncharitable trust without ascertainable beneficiary

§409. Noncharitable trust without ascertainable beneficiary
Except as otherwise provided in section 408 or by another statute, the following rules apply.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
1.  Noncharitable purpose.
A trust may be created for a noncharitable purpose without a definite or definitely ascertainable beneficiary or for a noncharitable but otherwise valid purpose to be selected by the trustee.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Enforcement.
A trust authorized by this section may be enforced by a person appointed in the terms of the trust or, if no person is so appointed, by a person appointed by the court.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
3.  Intended use of property.
Property of a trust authorized by this section may be applied only to its intended use, except to the extent the court determines that the value of the trust property exceeds the amount required for the intended use. Except as otherwise provided in the terms of the trust, property not required for the intended use must be distributed to the settlor, if then living, otherwise, to the settlor's successors in interest.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 4: CREATION, VALIDITY, MODIFICATION AND TERMINATION OF TRUST › 18-B §410. Modification or termination of trust; proceedings for approval or disapproval

§410. Modification or termination of trust; proceedings for approval or disapproval
1.  Termination.
In addition to the methods of termination prescribed by sections 411 through 414, a trust terminates to the extent the trust is revoked or expires pursuant to its terms, no purpose of the trust remains to be achieved or the purposes of the trust have become unlawful, contrary to public policy or impossible to achieve.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Modification or termination proceeding.
A proceeding to approve or disapprove a proposed modification or termination under sections 411 to 416, or trust combination or division under section 417, may be commenced by a trustee or beneficiary, and a proceeding to approve or disapprove a proposed modification or termination under section 411 may be commenced by the settlor. The settlor of a charitable trust may maintain a proceeding to modify the trust under section 413.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 4: CREATION, VALIDITY, MODIFICATION AND TERMINATION OF TRUST › 18-B §411. Modification or termination of noncharitable irrevocable trust by consent

§411. Modification or termination of noncharitable irrevocable trust by consent
1.  Consent of settlor and all beneficiaries.
If the settlor and all beneficiaries consent to the modification or termination of an irrevocable trust, the court shall enter an order approving the modification or termination even if the modification or termination is inconsistent with a material purpose of the trust, if the court finds that the modification or termination is in the best interests of the beneficiaries. A settlor's power to consent to a trust's modification or termination may be exercised by an agent under a power of attorney only to the extent expressly authorized by the power of attorney or the terms of the trust; by the settlor's conservator with the approval of the court supervising the conservatorship if an agent is not so authorized; or by the settlor's guardian with the approval of the court supervising the guardianship if an agent is not so authorized and a conservator has not been appointed.
[PL 2005, c. 184, §9 (AMD).]
2.  Consent of beneficiaries.
A noncharitable irrevocable trust may be terminated upon consent of all of the beneficiaries if the court concludes that continuance of the trust is not necessary to achieve any material purpose of the trust. A noncharitable irrevocable trust may be modified upon consent of all of the beneficiaries if the court concludes that modification is not inconsistent with a material purpose of the trust.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
3.  Spendthrift provision.
A spendthrift provision in the terms of the trust is not presumed to constitute a material purpose of the trust.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
4.  Distribution after termination.
Upon termination of a trust under subsection 1 or 2, the trustee shall distribute the trust property as agreed by the beneficiaries.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
5.  Court approval without unanimous consent.
If not all of the beneficiaries consent to a proposed modification or termination of the trust under subsection 1 or 2, the modification or termination may be approved by the court if the court is satisfied that:
A. If all of the beneficiaries had consented, the trust could have been modified or terminated under this section; and   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
B. The interests of a beneficiary who does not consent will be adequately protected.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF). PL 2005, c. 184, §9 (AMD).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 4: CREATION, VALIDITY, MODIFICATION AND TERMINATION OF TRUST › 18-B §412. Modification or termination because of unanticipated circumstances or inability to administer trust effectively

§412. Modification or termination because of unanticipated circumstances or inability to administer trust effectively
1.  Modification or termination.
The court may modify the administrative or dispositive terms of a trust or terminate the trust if, because of circumstances not anticipated by the settlor, modification or termination will further the purposes of the trust. To the extent practicable, the modification must be made in accordance with the settlor's probable intention.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Modification of administrative terms.
The court may modify the administrative terms of a trust if continuation of the trust on its existing terms would be impracticable or wasteful or impair the trust's administration.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
3.  Distribution after termination.
Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 4: CREATION, VALIDITY, MODIFICATION AND TERMINATION OF TRUST › 18-B §413. Cy pres

§413. Cy pres
1.  Charitable purpose becomes unlawful, impracticable, impossible to achieve or wasteful.
Except as otherwise provided in subsection 2, if a particular charitable purpose of a trust becomes unlawful, impracticable, impossible to achieve or wasteful:
A. The trust does not fail, in whole or in part;   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
B. The trust property does not revert to the settlor or the settlor's successors in interest; and   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
C. The court may apply cy pres to modify or terminate the trust by directing that the trust property be applied or distributed, in whole or in part, in a manner consistent with the settlor's charitable purposes.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Noncharitable beneficiary.
A provision in the terms of a charitable trust that would result in distribution of the trust property to a noncharitable beneficiary prevails over the power of the court under subsection 1 to apply cy pres to modify or terminate the trust only if, when the provision takes effect:
A. The trust property is to revert to the settlor and the settlor is still living; or   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
B. Fewer than 50 years have elapsed since the date of the trust's creation.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 4: CREATION, VALIDITY, MODIFICATION AND TERMINATION OF TRUST › 18-B §414. Modification or termination of uneconomic trust

§414. Modification or termination of uneconomic trust
1.  Termination by trustee after notice.
After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than $100,000 may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Modification, termination, new trustee by court.
The court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of administration.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
3.  Distribution after termination.
Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
4.  Easement for conservation or preservation.
This section does not apply to an easement for conservation or preservation.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 4: CREATION, VALIDITY, MODIFICATION AND TERMINATION OF TRUST › 18-B §415. Reformation to correct mistakes

§415. Reformation to correct mistakes
The court may reform the terms of a trust, even if unambiguous, to conform the terms to the settlor's intention if it is proved by clear and convincing evidence that both the settlor's intent and the terms of the trust were affected by a mistake of fact or law, whether in expression or inducement.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 4: CREATION, VALIDITY, MODIFICATION AND TERMINATION OF TRUST › 18-B §416. Modification to achieve settlor's tax objectives

§416. Modification to achieve settlor's tax objectives
To achieve the settlor's tax objectives, the court may modify the terms of a trust in a manner that is not contrary to the settlor's probable intention. The court may provide that the modification has retroactive effect.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 4: CREATION, VALIDITY, MODIFICATION AND TERMINATION OF TRUST › 18-B §417. Combination and division of trusts

§417. Combination and division of trusts
After notice to the qualified beneficiaries, a trustee may combine 2 or more trusts into a single trust or divide a trust into 2 or more separate trusts, if the result does not impair rights of any beneficiary or adversely affect achievement of the purposes of the trust.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 5: CREDITOR'S CLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS › 18-B §501. Rights of beneficiary's creditor or assignee

§501. Rights of beneficiary's creditor or assignee
To the extent a beneficiary's interest is not protected by a spendthrift provision, the court may authorize a creditor or assignee of the beneficiary to reach the beneficiary's interest by attachment of present or future distributions to the beneficiary. The court may limit the award to such relief as is appropriate under the circumstances.   [PL 2005, c. 184, §10 (AMD).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF). PL 2005, c. 184, §10 (AMD).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 5: CREDITOR'S CLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS › 18-B §502. Spendthrift provision

§502. Spendthrift provision
1.  Restrains voluntary and involuntary transfers.
A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Terminology.
A term of a trust providing that the interest of a beneficiary is held subject to a "spendthrift trust," or words of similar import, is sufficient to restrain both voluntary and involuntary transfer of the beneficiary's interest.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
3.  No transfer by beneficiary; creditors and assignees.
A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift provision and, except as otherwise provided in this chapter, a creditor or assignee of the beneficiary may not reach the interest or a distribution by the trustee before its receipt by the beneficiary.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 5: CREDITOR'S CLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS › 18-B §503. Exceptions to spendthrift provision

§503. Exceptions to spendthrift provision
There are no exceptions to spendthrift provisions except as provided in sections 504, 505 and 506.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 5: CREDITOR'S CLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS › 18-B §504. Discretionary trusts; effect of standard

§504. Discretionary trusts; effect of standard
1.  Creditor may not compel distribution.
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   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
B. The trustee has abused the discretion.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Right of beneficiary not limited.
This section does not limit the right of a beneficiary to maintain a judicial proceeding against a trustee for failure to exercise a discretionary power in accordance with the terms and purposes of the trust or for failure to comply with a standard for distribution.
[PL 2005, c. 184, §11 (AMD).]
3.  Creditor limited.
If a 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.
[PL 2011, c. 42, §5 (RPR).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF). PL 2005, c. 184, §§11,12 (AMD). PL 2011, c. 42, §5 (AMD).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 5: CREDITOR'S CLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS › 18-B §505. Creditor's claim against settlor

§505. Creditor's claim against settlor
1.  Creditor's claims.
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.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
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.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
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.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Holder of power.
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   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
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 the federal Internal Revenue Code of 1986, Section 2041(b)(2) or 2514(e) or the federal Internal Revenue Code of 1986, Section 2503(b), in each case as in effect on July 1, 2005, or as later amended.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 5: CREDITOR'S CLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS › 18-B §506. Overdue distribution

§506. Overdue distribution
1.  Definitions.
As used in this section, unless the context otherwise indicates, "mandatory distribution" means a distribution of income or principal that a trustee is required to make to a beneficiary under the terms of a trust, including a distribution upon termination of the trust. "Mandatory distribution" does not include a distribution subject to the exercise of the trustee's discretion even if:
A. The discretion is expressed in the form of a standard of distribution; or   [PL 2011, c. 42, §6 (NEW).]
B. The terms of the trust authorizing a distribution couple language of discretion with language of direction.   [PL 2011, c. 42, §6 (NEW).]
[PL 2011, c. 42, §6 (NEW).]
2.  Unreasonable delay in distribution.
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.
[PL 2011, c. 42, §6 (NEW).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF). PL 2011, c. 42, §6 (RPR).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 5: CREDITOR'S CLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS › 18-B §507. Personal obligations of trustee

§507. Personal obligations of trustee
Trust property is not subject to personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 6: REVOCABLE TRUSTS › 18-B §601. Capacity of settlor of revocable trust

§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.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 6: REVOCABLE TRUSTS › 18-B §603. Settlor's powers; powers of withdrawal

§603. Settlor's powers; powers of withdrawal
1.  Revocable trust.
To the extent a trust is revocable, rights of the beneficiaries are subject to the control of, and the duties of the trustee are owed exclusively to, the settlor.
[PL 2019, c. 301, §3 (AMD).]
2.  Rights of settlor of revocable trust.
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.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
3.  Revocable trust; direction of settlor.
To the extent a trust is revocable by the settlor, the 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 the settlor in conjunction with a person other than the trustee or person holding an adverse interest, the trustee may follow a direction of the settlor and the other person holding the power to revoke even if the direction is contrary to the terms of the trust.
[PL 2019, c. 301, §4 (NEW).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF). PL 2005, c. 184, §13 (AMD). PL 2019, c. 301, §§3, 4 (AMD).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 6: REVOCABLE TRUSTS › 18-B §604. Limitation on action contesting validity of revocable trust; distribution of trust property

§604. Limitation on action contesting validity of revocable trust; distribution of trust property
1.  Revocable trust.
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. Three years after the settlor's death; or   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
B. One hundred and twenty 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.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Trustee liability for distributions.
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   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
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.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
3.  Beneficiary to return distribution.
A beneficiary of a trust that is determined to have been invalid is liable to return any distribution received.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 7: OFFICE OF TRUSTEE › 18-B §701. Accepting or declining trusteeship

§701. Accepting or declining trusteeship
1.  Acceptance.
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   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
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.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Rejection.
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 deemed to have rejected the trusteeship.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
3.  Action without acceptance.
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   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
B. Inspect or investigate trust property to determine potential liability under environmental or other law or for any other purpose.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 7: OFFICE OF TRUSTEE › 18-B §702. Trustee's bond

§702. Trustee's bond
1.  Bond.
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.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Amount.
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.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
3.  Financial institution.
A financial institution qualified to do trust business in this State need not give bond, even if required by the terms of the trust.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
4.  Cost charged to trust.
Unless otherwise directed by the court, the cost of a bond is charged to the trust.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 7: OFFICE OF TRUSTEE › 18-B §703. Cotrustees

§703. Cotrustees
1.  Unanimous decision; majority decision.
Cotrustees who are unable to reach a unanimous decision may act by majority decision.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Vacancy.
If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
3.  Participation by cotrustee.
Subject to the Maine Uniform Directed Trust Act, 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 or other temporary incapacity or the cotrustee has properly delegated the performance of the function to another trustee.
[PL 2019, c. 301, §5 (AMD).]
4.  Cotrustee unavailable.
If a cotrustee is unavailable to perform duties because of absence, illness, disqualification or other temporary incapacity, the remaining cotrustee or a majority of the remaining cotrustees may act for the trust.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
5.  Delegation.
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.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
6.  Liability.
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.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
7.  Reasonable care.
Subject to the Maine Uniform Directed Trust Act, each trustee shall exercise reasonable care to:
A. Prevent a cotrustee from committing a serious breach of trust; and   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF); PL 2003, c. 618, Pt. A, §2 (AFF).]
B. Compel a cotrustee to redress a serious breach of trust.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2019, c. 301, §6 (AMD); PL 2003, c. 618, Pt. A, §2 (AFF).]
8.  Dissenting trustee.
A dissenting trustee who joins in an action at the direction of the majority of the trustees and who notified in writing 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.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF). PL 2019, c. 301, §§5, 6 (AMD).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 7: OFFICE OF TRUSTEE › 18-B §704. Vacancy in trusteeship; appointment of successor

§704. Vacancy in trusteeship; appointment of successor
1.  Vacancy.
A vacancy in a trusteeship occurs if:
A. A person designated as trustee rejects the trusteeship;   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
B. A person designated as trustee can not be identified or does not exist;   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
C. A trustee resigns;   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
D. A trustee is disqualified or removed;   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
E. A trustee dies; or   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
F. A guardian or conservator is appointed for an individual serving as trustee.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Filling of vacancies.
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.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
3.  Order of priority; noncharitable trust.
A vacancy in a trusteeship of a noncharitable 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;   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
B. By a person appointed by unanimous agreement of the qualified beneficiaries; or   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
C. By a person appointed by the court.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
4.  Order of priority; charitable trust.
A vacancy in a trusteeship of a charitable 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;   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
B. By a person appointed by unanimous agreement of the charitable organizations expressly designated to receive distributions under the terms of the trust; or   [PL 2005, c. 184, §14 (AMD).]
C. By a person appointed by the court.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2005, c. 184, §14 (AMD).]
5.  Appointment by court.
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.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF). PL 2005, c. 184, §14 (AMD).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 7: OFFICE OF TRUSTEE › 18-B §705. Resignation of trustee

§705. Resignation of trustee
1.  Resignation.
A trustee may resign:
A. Upon at least 30 days' notice to the qualified beneficiaries, the settlor, if living, and all cotrustees; or   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
B. With the approval of the court.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Approval by court.
In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
3.  Liability.
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.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 7: OFFICE OF TRUSTEE › 18-B §706. Removal of trustee

§706. Removal of trustee
1.  Request to remove trustee.
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.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Removal by court.
The court may remove a trustee if:
A. The trustee has committed a serious breach of trust;   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
B. Lack of cooperation among cotrustees substantially impairs the administration of the trust;   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
C. Because of unfitness, unwillingness or persistent failure of the trustee to administer the trust effectively, the court determines that removal of the trustee best serves the interests of the beneficiaries; or   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
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.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
3.  Appropriate relief.
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 such appropriate relief under section 1001, subsection 2 as may be necessary to protect the trust property or the interests of the beneficiaries.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 7: OFFICE OF TRUSTEE › 18-B §707. Delivery of property by former trustee

§707. Delivery of property by former trustee
1.  Duties of former trustee.
Unless a cotrustee remains in office or the court otherwise orders, and until the trust property is delivered to the cotrustee, successor trustee or other person entitled to it, a trustee who has resigned or been removed or disqualified has the duties of a trustee and the powers necessary to protect the trust property.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Expeditious delivery.
A trustee who has resigned or been removed or disqualified shall proceed expeditiously to deliver the trust property within the trustee's possession to the cotrustee, successor trustee or other person entitled to it.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 7: OFFICE OF TRUSTEE › 18-B §708. Compensation of trustee

§708. Compensation of trustee
1.  Reasonable.
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. A percentage fee is allowable under this section only if the fee is reasonable. Among the factors a court may consider as guides in determining the reasonableness of fees under this section are the following:
A. The time and labor required, the novelty and difficulty of the questions involved and the skill requisite to perform the service properly;   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
B. The likelihood, if apparent to the trustee, that the acceptance of the particular employment will preclude the person employed from other employment;   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
C. The fee customarily charged in the locality for similar services;   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
D. The amounts involved and the results obtained;   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
E. The time limitations imposed by the trustee or by the circumstances; and   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
F. The experience, reputation and ability of the person performing the services.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
The order of the factors in this subsection does not imply their relative importance.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Terms of trust.
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 trustees are substantially different from those contemplated when the trust was created; or   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
B. The compensation specified by the terms of the trust would be unreasonably low or high.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
3.  Review; refunds if excessive.
On petition of a qualified beneficiary, after notice to all qualified beneficiaries, the court may review the reasonableness of the compensation determined by the trustee for the trustee's services. A trustee who has received excessive compensation from a trust may be ordered to make appropriate refunds.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 7: OFFICE OF TRUSTEE › 18-B §709. Reimbursement of expenses

§709. Reimbursement of expenses
1.  Reimbursement.
A trustee is entitled to be reimbursed out of the trust property, with interest as appropriate, for:
A. Expenses that were properly incurred in the administration of the trust; and   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
B. To the extent necessary to prevent unjust enrichment of the trust, expenses that were not properly incurred in the administration of the trust.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Advance by trustee.
An advance by the trustee of money for the protection of the trust gives rise to a lien against trust property to secure reimbursement with reasonable interest.
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 8: DUTIES AND POWERS OF TRUSTEE › 18-B §801. Duty to administer trust

§801. Duty to administer trust
Upon acceptance of a trusteeship, the trustee shall administer the trust in good faith, in accordance with its terms and purposes and the interests of the beneficiaries and in accordance with this Code.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 8: DUTIES AND POWERS OF TRUSTEE › 18-B §803. Impartiality

§803. Impartiality
If a trust has 2 or more beneficiaries, the trustee shall act impartially in investing, managing and distributing the trust property, giving due regard to the beneficiaries' respective interests.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 8: DUTIES AND POWERS OF TRUSTEE › 18-B §804. Prudent administration

§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.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 8: DUTIES AND POWERS OF TRUSTEE › 18-B §805. Costs of administration

§805. Costs of administration
In administering a trust, the trustee may incur only costs that are reasonable in relation to the trust property, the purposes of the trust and the skills of the trustee.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
2023 Maine Revised Statutes › TITLE 18-B: TRUSTS › Part 1: MAINE UNIFORM TRUST CODE › Chapter 8: DUTIES AND POWERS OF TRUSTEE › 18-B §806. Trustee's skills

§806. Trustee's skills
A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee's representation that the trustee has special skills or expertise, shall use those special skills or expertise.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).