A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution.
KRS 386B.8-040
Prudent administration
Known as the Uniform Trust Code
The act spans §§ 386B.10-010 to 386B.9-010 (95 sections).
Effective: July 15, 2014 History: Created 2014 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.