(a) Except as otherwise provided in subsection (c), a person designated as trustee
accepts the trusteeship:
(1) By substantially complying with a method of acceptance provided in the terms of
the trust; or
(2) If the terms of the trust do not provide a method of acceptance or the method
provided in the terms of the trust is not expressly made exclusive, by knowingly accepting
delivery of the trust property, knowingly exercising powers or performing duties as
trustee, or otherwise indicating acceptance of the trusteeship.
(b) A person designated as trustee who has not yet accepted the trusteeship may reject
the trusteeship. A designated trustee who does not accept the trusteeship within a reasonable time
after knowing of the designation is deemed to have rejected the trusteeship.
(c) A person designated as trustee, without accepting the trusteeship, may:
(1) Act to preserve the trust property if, within a reasonable time after acting,
the person sends a rejection of the trusteeship to the settlor or, if the settlor
is dead or lacks capacity, to the designated cotrustee, or, if none, to the successor
trustee, or, if none or unknown, to a qualified beneficiary; and
(2) Inspect or investigate trust property to determine potential liability under environmental
or other law or for any other purpose.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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