{"data":{"id":"us-ky/krs-386b.1-030","jurisdiction":"us-ky","citation":"KRS 386B.1-030","heading":"Default and mandatory rules.","body":"(1) Except as otherwise provided in the terms of the trust, this chapter governs the\nduties and powers of a trustee, relations among trustees, and the rights and interests\nof a beneficiary.\n(2) The terms of a trust prevail over any provision of this chapter, except:\n(a) The requirements for creating a trust;\n(b) Subject to KRS 386B.12 -080, 386B.12-100, and 386B.12 -110, the duty of a\ntrustee to act in good faith and in the interests of the beneficiaries;\n(c) The requirement that a trust and its terms be for the benefit of its\nbeneficiaries, and that the trust have a purpose that is lawful, not contrary to\npublic policy, and possible to achieve;\n(d) The power of the court to change or terminate a trust under Subchapter 4 of\nthis chapter;\n(e) The effect of a spend thrift provision and the rights of certain creditors and\nassignees to reach a trust as provided in Subchapter 5 of this chapter;\n(f) The power of the court under KRS 386B.7 -020 to require, dispense with, or\nmodify or terminate a bond;\n(g) The power of the court under KRS 386B.7 -080(2) to adjust a trustee's\ncompensation as specified in the terms of the trust which is unreasonably low\nor high;\n(h) The duty to notify and report under KRS 386B.8-130(2);\n(i) The effect of an exculpatory term under KRS 386B.10-080;\n(j) The rights under KRS 386B.10 -100, 386B.10 -110, and 386B.10 -120 of a\nperson other than a trustee or beneficiary;\n(k) Periods of limitation for commencing a judicial proceeding;\n(l) The power of th e court to take such action and exercise such jurisdiction as\nmay be necessary in the interests of justice; and\n(m) The subject -matter jurisdiction of the court and venue for commencing a\nproceeding as provided in KRS 386B.2-030 and 386B.2-040.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=57780","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:18Z","sha256":"7bfa1f75f8ebec42d47590a55fc89e8c2ee459b54cb7c869c32ff263767ba430","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386b.1-020","next":"us-ky/krs-386b.1-040"},"notice":"GroundRules: Original legal text. Not legal advice."}