{"data":{"id":"us-ky/krs-386.452","jurisdiction":"us-ky","citation":"KRS 386.452","heading":"Fiduciary duties.","body":"(1) In allocating receipts and disbursements to or between principal and income, and\nwith respect to any matter within the scope of Articles 2 and 3 of the Kentucky\nPrincipal and Income Act, a fiduciary:\n(a) Shall administer a trust or estate in accordance wit h the terms of the trust or\nthe will, even if there is a different provision in KRS 386.450 to 386.504;\n(b) May administer a trust or estate by the exercise of a discretionary power of\nadministration given to the fiduciary by the terms of the trust or the will, even\nif the exercise of the power produces a result different from a result required\nor permitted by KRS 386.450 to 386.504;\n(c) Shall administer a trust or estate in accordance with KRS 386.450 to 386.504\nif the terms of the trust or the will do not  contain a different provision or do\nnot give the fiduciary a discretionary power of administration; and\n(d) Shall add a receipt or charge a disbursement to principal to the extent that\nneither the terms of the trust nor KRS 386.450 to 386.504 provide a ru le for\nallocating the receipt or disbursement to or between principal and income.\n(2) In exercising the power to adjust under KRS 386.454(1) or (2) or a discretionary\npower of administration regarding a matter within the scope of KRS 386.450 to\n386.504, whether granted by the terms of a trust, a will, or KRS 386.450 to 386.504,\na fiduciary shall administer a trust or estate impartially, based on what is fair and\nreasonable to all of the beneficiaries, except to the extent that the terms of the trust\nor the will clearly manifest a contrary intention. Except as provided in this\nsubsection, determination in accordance with KRS 386.450 to 386.504 shall be\npresumed to be fair and reasonable to all of the beneficiaries.","path":["KRS Chapter 386"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=43168","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:16Z","sha256":"c5f268a2bbf6513b73557d455cfed7cbf897526ea163959e97187cf79cb2786b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386.450","next":"us-ky/krs-386.454"},"notice":"GroundRules: Original legal text. Not legal advice."}