| | | 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. |
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| | | 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. |
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| | | §807.__Delegation by trustee |
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| | | 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: |
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| | | B.__Establishing the scope and terms of the delegation, | | consistent with the purposes and terms of the trust; and |
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| | | C.__Periodically reviewing the agent's actions in order to | | monitor the agent's performance and compliance with the | | terms of the delegation. |
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| | | 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. |
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| | | 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. |
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| | | 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. |
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| | | 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. |
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