Mississippi Uniform Trust Code
Mississippi · Trusts and Estates · §§ 91-8-1001 to 91-8-901 · 104 sections
Overview
This act provides a general statutory framework for the creation, administration, and enforcement of trusts, setting out default rules that yield to the terms of the trust alongside a narrower set of mandatory rules that cannot be overridden, with the common law of trusts and principles of equity continuing to supplement it. It covers such matters as governing law and the principal place of administration, notice to beneficiaries and who is entitled to receive it, rules of construction, and the recognition of resulting and constructive trusts. It also governs the consequences of a trustee's conduct — remedies and damages for breach of trust, attorney fees, time limits on actions against a trustee, exculpation clauses and beneficiary consent or release, limits on a trustee's personal liability to third parties, and protection for those who deal with a trustee in reliance on a certification of trust — while allowing interested parties to resolve certain questions among themselves through nonjudicial settlement agreements rather than in court.
Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.
In the courts
Sections of this act have been cited in 4 court decisions.
Most-cited authority: 203 SO3D 1147 - Joe Fuller v. Dorothy B. Kelly
Sections covered
- Miss. Code Ann. § 91-8-1001Remedies for breach of trust
- Miss. Code Ann. § 91-8-1002Damages for breach of trust
- Miss. Code Ann. § 91-8-1003Damages in absence of breach
- Miss. Code Ann. § 91-8-1004Attorney’s fees and costs
- Miss. Code Ann. § 91-8-1005Limitation of action against trustee by a beneficiary, a trustee, trust advisor or trust protector
- Miss. Code Ann. § 91-8-1006Reliance on trust instrument
- Miss. Code Ann. § 91-8-1007Event affecting administration or distribution
- Miss. Code Ann. § 91-8-1008Exculpation of trustee
- Miss. Code Ann. § 91-8-1009Beneficiary’s consent, release, or ratification
- Miss. Code Ann. § 91-8-101Short title1 cite
- Miss. Code Ann. § 91-8-1010Limitation on personal liability of trustee
- Miss. Code Ann. § 91-8-1011Interest as general partner
- Miss. Code Ann. § 91-8-1012Protection of person dealing with trustee
- Miss. Code Ann. § 91-8-1013Certification of trust
- Miss. Code Ann. § 91-8-1014Enforcement of no-contest, in terrorem or forfeiture provisions1 cite
- Miss. Code Ann. § 91-8-102Scope
- Miss. Code Ann. § 91-8-103Definitions
- Miss. Code Ann. § 91-8-104Knowledge
- Miss. Code Ann. § 91-8-105Default and mandatory rules1 cite
- Miss. Code Ann. § 91-8-106Common law of trusts; principles of equity
- Miss. Code Ann. § 91-8-107Governing law
- Miss. Code Ann. § 91-8-108Principal place of administration
- Miss. Code Ann. § 91-8-109Methods and waiver of notice
- Miss. Code Ann. § 91-8-110Others treated as qualified beneficiaries
- Miss. Code Ann. § 91-8-1101Uniformity of application and construction
- Miss. Code Ann. § 91-8-1102Electronic records and signatures
- Miss. Code Ann. § 91-8-1103Severability clause
- Miss. Code Ann. § 91-8-1104§§ 91-8-1104 and 91-8-1105. [Reserved]
- Miss. Code Ann. § 91-8-1106Application to existing relationships
- Miss. Code Ann. § 91-8-1107Alter ego
- Miss. Code Ann. § 91-8-1108Dominion and control over a trust
- Miss. Code Ann. § 91-8-1109Protection of special needs trusts and other similar trusts for disabled persons
- Miss. Code Ann. § 91-8-111Nonjudicial settlement agreements
- Miss. Code Ann. § 91-8-112Rules of construction
- Miss. Code Ann. § 91-8-1201Powers of trust advisors and trust protectors
- Miss. Code Ann. § 91-8-1202Trust advisors and trust protectors as fiduciaries
- Miss. Code Ann. § 91-8-1203Trust advisor and trust protector subject to court jurisdiction
- Miss. Code Ann. § 91-8-1204No duty to review actions of trustee, trust advisor, or trust protector
- Miss. Code Ann. § 91-8-1205Fiduciary’s liability for action or inaction of trustee, trust advisor, and trust protector
- Miss. Code Ann. § 91-8-1206Limitation of action against trust advisor or trust protector
- Miss. Code Ann. § 91-8-201Role of court in administration of trust
- Miss. Code Ann. § 91-8-202Jurisdiction over trustee and beneficiary
- Miss. Code Ann. § 91-8-203Subject-matter jurisdiction
- Miss. Code Ann. § 91-8-204Venue
- Miss. Code Ann. § 91-8-205Judicial accountings and settlements
- Miss. Code Ann. § 91-8-301Representation: basic effect
- Miss. Code Ann. § 91-8-302Representation by holder of power of appointment
- Miss. Code Ann. § 91-8-303Representation by fiduciaries and parents
- Miss. Code Ann. § 91-8-304Representation by person having substantially identical interest
- Miss. Code Ann. § 91-8-305Appointment of representative
- Miss. Code Ann. § 91-8-401Methods of creating trust
- Miss. Code Ann. § 91-8-402Requirements for creation
- Miss. Code Ann. § 91-8-403Trusts created in other jurisdictions
- Miss. Code Ann. § 91-8-404Trust purposes
- Miss. Code Ann. § 91-8-405Charitable purposes; enforcement
- Miss. Code Ann. § 91-8-406Creation of trust induced by fraud, duress, or undue influence
- Miss. Code Ann. § 91-8-407Evidence of oral trust; trust in land
- Miss. Code Ann. § 91-8-408Trust for care of animal
- Miss. Code Ann. § 91-8-409Noncharitable trust without ascertainable beneficiary
- Miss. Code Ann. § 91-8-410Modification or termination of trust; proceedings for approval or disapproval
- Miss. Code Ann. § 91-8-411Modification or termination of noncharitable irrevocable trust by consent
- Miss. Code Ann. § 91-8-412Modification or termination because of unanticipated circumstances or inability to administer trust effectively
- Miss. Code Ann. § 91-8-413Cy pres
- Miss. Code Ann. § 91-8-414Modification or termination of uneconomic trust
- Miss. Code Ann. § 91-8-415Reformation to correct mistakes
- Miss. Code Ann. § 91-8-416Modification to achieve settlor’s tax objectives
- Miss. Code Ann. § 91-8-417Combination and division of trusts
- Miss. Code Ann. § 91-8-601Capacity of settlor of revocable trust
- Miss. Code Ann. § 91-8-602Revocation or amendment of revocable trust
- Miss. Code Ann. § 91-8-603Settlor’s powers; powers of withdrawal
- Miss. Code Ann. § 91-8-604Limitation on action contesting validity of revocable trust; distribution of trust property
- Miss. Code Ann. § 91-8-701Accepting or declining trusteeship
- Miss. Code Ann. § 91-8-702Trustee’s bond
- Miss. Code Ann. § 91-8-703Cotrustees
- Miss. Code Ann. § 91-8-704Vacancy in trusteeship; appointment of successor
- Miss. Code Ann. § 91-8-705Resignation of trustee
- Miss. Code Ann. § 91-8-706Removal of trustee
- Miss. Code Ann. § 91-8-707Delivery of property by former trustee
- Miss. Code Ann. § 91-8-708Compensation of trustee, trust advisor and trust protector
- Miss. Code Ann. § 91-8-709Reimbursement of expenses
- Miss. Code Ann. § 91-8-710Directed trusts
- Miss. Code Ann. § 91-8-711Directed trusts; accepting or declining fiduciary appointment
- Miss. Code Ann. § 91-8-712Directed trusts; fiduciary’s bond
- Miss. Code Ann. § 91-8-713Vacancy; directed trusts
- Miss. Code Ann. § 91-8-714Directed trusts; resignation of fiduciary
- Miss. Code Ann. § 91-8-715Directed trusts; removal of fiduciary
- Miss. Code Ann. § 91-8-801Duty to administer trust
- Miss. Code Ann. § 91-8-802Duty of loyalty
- Miss. Code Ann. § 91-8-803Impartiality
- Miss. Code Ann. § 91-8-804Prudent administration
- Miss. Code Ann. § 91-8-805Costs of administration
- Miss. Code Ann. § 91-8-806Trustee’s skills
- Miss. Code Ann. § 91-8-807Delegation by trustee
- Miss. Code Ann. § 91-8-808Powers to direct
- Miss. Code Ann. § 91-8-809Control and protection of trust property
- Miss. Code Ann. § 91-8-810Recordkeeping and identification of trust property
- Miss. Code Ann. § 91-8-811Enforcement and defense of claims1 cite
- Miss. Code Ann. § 91-8-812Collecting trust property
- Miss. Code Ann. § 91-8-813Duty to inform and report
- Miss. Code Ann. § 91-8-814Exercise of powers over discretionary and other interests; tax savings
- Miss. Code Ann. § 91-8-815General powers of trustee
- Miss. Code Ann. § 91-8-816Specific powers of trustee
- Miss. Code Ann. § 91-8-817Distribution upon termination
- Miss. Code Ann. § 91-8-901Prudent Investor Act incorporated by reference
Enacted in other states
Alabama, Colorado, Connecticut, District of Columbia, Hawaii, Kentucky, Massachusetts, Montana, North Carolina, North Dakota, Nebraska, New Jersey, New Mexico, Oklahoma, Oregon, Tennessee, West Virginia, Wyoming
All Mississippi named statutes →
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