LD 921
pg. 32
Page 31 of 58 PUBLIC Law Chapter 618 Page 33 of 58
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LR 466
Item 1

 
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.

 
§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.

 
§807.__Delegation by trustee

 
1.__Delegation.__A trustee may delegate duties and powers that
a prudent trustee of comparable skills could properly delegate
under the circumstances. The trustee shall exercise reasonable
care, skill and caution in:

 
A.__Selecting an agent;

 
B.__Establishing the scope and terms of the delegation,
consistent with the purposes and terms of the trust; and

 
C.__Periodically reviewing the agent's actions in order to
monitor the agent's performance and compliance with the
terms of the delegation.

 
2.__Agent's duty to trust.__In performing a delegated
function, an agent owes a duty to the trust to exercise
reasonable care to comply with the terms of the delegation.

 
3.__Liability of trustee.__A trustee who complies with
subsection 1 is not liable to the beneficiaries or to the trust
for an action of the agent to whom the function was delegated.

 
4.__Agent submits to jurisdiction.__By accepting a delegation
of powers or duties from the trustee of a trust that is subject
to the law of this State, an agent submits to the jurisdiction of
the courts of this State.

 
5.__Review of agent.__Upon petition of a qualified
beneficiary, after notice to all qualified beneficiaries, the
trustee and the agent of the trustee, the court may review the
employment of any agent by the trustee and the reasonableness of
the agent's compensation.__Any agent who is found to have
received excess compensation from a trust may be ordered to make
appropriate refunds.

 
§808.__Powers to direct


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