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Montana Title 72. Estates, Trusts, and Fiduciary Relationships § 72-38-707. Delivery of property by former trustee

Current as of January 01, 2024 | Updated by Findlaw Staff

(1) Unless a cotrustee remains in office or the court otherwise orders, and until the trust property is delivered to a successor trustee or other person entitled to it, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the trust property.

(2) A trustee who has resigned or been removed shall proceed expeditiously to deliver the trust property within the trustee's possession to the cotrustee, successor trustee, or other person entitled to it. If a trustee fails to deliver trust property as required in this subsection:

(a) the resigned or removed trustee is personally liable for the actual damages incurred as a result of the failure to deliver trust property; and

(b) the court, in its discretion, may order the resigned or removed trustee personally to pay the reasonable attorney fees incurred in enforcing the resigned or removed trustee's duty to deliver trust property.

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Cite this article: FindLaw.com - Montana Title 72. Estates, Trusts, and Fiduciary Relationships § 72-38-707. Delivery of property by former trustee - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-72-estates-trusts-and-fiduciary-relationships/mt-st-72-38-707/

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