uniform trust code - Kansas Judicial Branch

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Article 8 – Duties and Powers of Trustee – This article states the fundamental duties of a
trustee and enumerates the trustee’s powers. The duties listed are not new, although some of the
particulars have changed over the years. This article was drafted where possible to conform to the
Uniform Prudent Investor Act. The Uniform Prudent Investor Act prescribes a trustee’s
responsibilities with respect to the management and investment of trust property. This article also
addresses a trustee’s duties regarding distributions to beneficiaries.
Article 9 – Uniform Prudent Investor Act – This article provides a place for a jurisdiction
to enact, reenact or codify its version of the Uniform Prudent Investor Act. States adopting the
Uniform Trust Code which have previously enacted the Uniform Prudent Investor Act are
encouraged to reenact their version of the Prudent Investor Act in this article.
Article 10 – Liability of Trustees and Rights of Persons Dealing With
Trustees – Sections 1001 through 1009 list the remedies for breach of trust, describe how money
damages are to be determined, provide a statute of limitations on claims against a trustee, and
specify other defenses, including consent of a beneficiary and recognition of and limitations on the
effect of an exculpatory clause. Sections 1010 through 1013 address trustee relations with persons
other than beneficiaries. The objective is to encourage third parties to engage in commercial
transactions with trustees to the same extent as if the property were not held in trust.
Article 11 – Miscellaneous Provisions – The Uniform Trust Code is intended to have the
widest possible application, consistent with constitutional limitations. The Code applies not only
to trusts created on or after the effective date, but also to trusts in existence on the date of enactment.
The Drafting Committee was assisted by numerous officially designated advisors and
observers, representing an array of organizations. In addition to the American Bar Association
advisors listed above, advisors and observers who attended a majority of the Drafting Committee
meetings include Edward C. Halbach, Jr., Reporter, Restatement (Third) of Trust Law; Kent H.
McMahan, American College of Trust and Estate Counsel; Alex Misheff, American Bankers
Association; and Lawrence W. Waggoner, Reporter, Restatement (Third) of Property: Wills and
Other Donative Transfers. Significant input was also received from the Joint Editorial Board for
Uniform Trusts and Estates Acts and the Committee on State Laws of the American College of Trust
and Estate Counsel.
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