Montana § 72-38-701 Accepting Or Declining Trusteeship

Montana Statutes

§ 72-38-701 — Accepting Or Declining Trusteeship

Montana § 72-38-701

Title 72ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS

Ch. 38MONTANA UNIFORM TRUST CODE

Part 7Office of Trustee

This text of Montana § 72-38-701 (Accepting Or Declining Trusteeship) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 72-38-701 (2026).

Text

72-38-701 . Accepting or declining trusteeship.

(1)Except as otherwise provided in subsection (3), a person designated as trustee accepts the trusteeship:

(a)by substantially complying with a method of acceptance provided in the terms of the trust; or

(b)if the terms of the trust do not provide a method or the method provided in the terms is not expressly made exclusive, by accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance of the trusteeship.

(2)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 considered to have rejected the trusteeship.

(3)A

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72-38-701 . Accepting or declining trusteeship. (1) Except as otherwise provided in subsection (3), a person designated as trustee accepts the trusteeship:
(a) by substantially complying with a method of acceptance provided in the terms of the trust; or
(b) if the terms of the trust do not provide a method or the method provided in the terms is not expressly made exclusive, by accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance of the trusteeship.
(2) 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 considered to have rejected the trusteeship.
(3) A person designated as trustee, without accepting the trusteeship, may:
(a) 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 a qualified beneficiary; and
(b) inspect or investigate trust property to determine potential liability under environmental or other law or for any other purpose.