§ 105.
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/vt/105-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 105. Default and mandatory rules
(a)Except as otherwise provided in the terms of the trust, this title governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary.
(b)The terms of a trust prevail over any provision of this title except:
(1)the requirements for creating a trust;
(2)the duty of a trustee to act in good faith and in accordance with the terms and purposes of the trust and the interests of the beneficiaries;
(3)the requirement that a trust and its terms be for the benefit of its beneficiaries, and that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve;
(4)the power of the Probate Division of the Superior Court to modify or terminate a trust under sections 410 through 416 of this title;
(5)the effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in chapter 5 of this title;
(6)the power of the Probate Division of the Superior Court under section 702 of this title to require, dispense with, or modify or terminate a bond;
(7)the power of the Probate Division of the Superior Court under subsection 708(b) of this title to adjust a trustee’s compensation specified in the terms of the trust which is unreasonably low or high;
(8)the effect of an exculpatory term under section 1008 of this title;
(9)the rights under sections 1010 through 1013 of this title of a person other than a trustee or beneficiary;
(10)periods of limitation for commencing a judicial proceeding;
(11)the power of the Probate Division of the Superior Court to take such action and exercise such jurisdiction as may be necessary in the interests of justice; and
(12)the subject matter jurisdiction of the Probate Division of the Superior Court and venue for commencing a proceeding as provided in sections 203 and 204 of this title. (Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj. Sess.), § 236, eff. Feb. 1, 2011.)