§ 19-1308.14. Discretionary powers; tax savings.

Current through October 23, 2012

(a) Notwithstanding the breadth of discretion granted to a trustee in the terms of the trust, including the use of such terms as "absolute", "sole", or "uncontrolled", the trustee shall exercise a discretionary power in good faith and in accordance with the terms and purposes of the trust and the interests of the beneficiaries.

(b) Section 21-1722 applies to a trust governed by this chapter.

                
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(Mar. 10, 2004, D.C. Law 15-104, § 2(b), 51 DCR 208.)

HISTORICAL AND STATUTORY NOTES

Legislative History of Laws

For Law 15-104, see notes following § 19-1301.01.

Uniform Law

This section is based upon § 814 of the Uniform Trust Code. See 7C, Uniform Laws Annotated, Master Edition, or ULA Database on Westlaw.