2011 Kentucky Revised Statutes CHAPTER 386 ADMINISTRATION OF TRUSTS -- LEGAL INVESTMENTS -- UNIFORM PRINCIPAL AND INCOME ACT 386.715 Duty to inform and account to beneficiaries.
KY Rev Stat § 386.715 (1996 through Reg Sess) What's This?
386.715 Duty to inform and account to beneficiaries.
The trustee shall keep the beneficiaries of the trust reasonably informed of the trust and
its administration. In addition:
(1) Within thirty (30) days after his acceptance of the trust, the trustee shall inform in
writing the current beneficiaries and if possible, one (1) or more persons who may
represent beneficiaries with future interests, of the court in which the trust is
registered and of his name and address;
(2) Upon reasonable request, the trustee shall provide the beneficiary with a copy of the
terms of the trust which describe or affect his interest and with relevant information
about the assets of the trust and the particulars relating to the administration;
(3) Upon reasonable request, a beneficiary is entitled to a statement of the accounts of
the trust annually and on termination of the trust or change of the trustee; and
(4) While a trust is revocable by the settlor and, in the reasonable belief of the trustee,
the settlor has capacity to revoke the trust, the trustee's duties under this section
extend only to the settlor.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 21, sec. 8, effective July 15, 2010. -- Created
1976 Ky. Acts ch. 218, sec. 14.
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