Notwithstanding the terms of a trust instrument, if a grantor has the power to substitute property of equivalent value, a trustee has a fiduciary duty to determine that the substitute property is of equivalent value, prior to allowing the substitution.
Idaho Code § 68-106A
Fiduciary duty to determine equivalent value of substituted property
Known as the Uniform Trustees’ Powers Act
The act spans §§ 68–68 (21 sections).
I.C., § 68-106A, as added by 2011, ch. 35, § 1, p. 78.
Current official text: Idaho Statutes (Idaho Legislature). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Idaho statutes; confirm against the official source for the current text. Not legal advice.