LD 921
pg. 40
Page 39 of 58 PUBLIC Law Chapter 618 Page 41 of 58
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LR 466
Item 1

 
Act, or to a custodial trustee under the laws of another
state, and, for that purpose, creating a custodianship or
custodial trust;

 
C.__If the trustee does not know of a conservator, guardian,
custodian or custodial trustee, paying it to an adult
relative or other person having legal or physical care or
custody of the beneficiary, to be expended on the
beneficiary's behalf; or

 
D.__Managing it as a separate fund on the beneficiary's
behalf, subject to the beneficiary's continuing right to
withdraw the distribution;

 
22.__Distribution, division or termination.__On distribution
of trust property or the division or termination of a trust, make
distributions in divided or undivided interests, allocate
particular assets in proportionate or disproportionate shares,
value the trust property for those purposes and adjust for
resulting differences in valuation;

 
23.__Resolution of dispute.__Resolve a dispute concerning the
interpretation of the trust or its administration by mediation,
arbitration or other procedure for alternative dispute
resolution;

 
24.__Prosecute or defend.__Prosecute or defend an action,
claim or judicial proceeding in any jurisdiction to protect trust
property and the trustee in the performance of the trustee's
duties;

 
25.__Contracts and other instruments.__Sign and deliver
contracts and other instruments that are useful to achieve or
facilitate the exercise of the trustee's powers; and

 
26.__Wind up administration and distribute.__On termination of
the trust, exercise the powers appropriate to wind up the
administration of the trust and distribute the trust property to
the persons entitled to it.

 
§817.__Distribution upon termination

 
1.__Proposed distribution.__Upon termination or partial
termination of a trust, the trustee may send to the beneficiaries
a proposal for distribution.__The right of any beneficiary to
object to the proposed distribution terminates if the beneficiary
does not notify the trustee of an objection within 30 days after
the proposal was sent but only if the proposal informed the
beneficiary of the right to object and of the time allowed for
objection.


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