2013 Kentucky Revised Statutes CHAPTER 386 - ADMINISTRATION OF TRUSTS -- LEGAL INVESTMENTS -- UNIFORM PRINCIPAL AND INCOME ACT 386.675 Initiation of judicial proceedings.
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386.675 Initiation of judicial proceedings.
(1)
(2)
Judicial proceedings may be initiated by interested persons concerning the
internal affairs of trusts. Proceedings which may be maintained under this
section are those concerning the administration and distribution of trusts, the
declaration of rights and the determination of other matters involving trustees
and beneficiaries of trusts. These include, but are not limited to, proceedings
to:
(a) Appoint or remove a trustee;
(b) Review trustee's fees and to review and settle interim or final accounts;
(c) Ascertain beneficiaries, determine any question arising in the
administration or distribution of any trust including questions of
construction of trust instruments, to instruct trustees, and determine the
existence or nonexistence of any immunity, power, privilege, duty or right;
and
(d) Release registration of a trust.
The management and distribution of a trust estate, submission of accounts and
reports to beneficiaries, payment of trustee's fees and other obligations of a
trust, acceptance and change of trusteeship, and other aspects of the
administration of a trust shall proceed expeditiously consistent with the terms of
the trust, free of judicial intervention and without order, approval or other action
of any court, subject to the jurisdiction of the court as invoked by interested
parties or as otherwise exercised as provided by law.
History: Created 1976 Ky. Acts ch. 218, sec. 6.
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