{"data":{"id":"us-ky/krs-386b.7-010","jurisdiction":"us-ky","citation":"KRS 386B.7-010","heading":"Accepting or declining trusteeship.","body":"(1) Except as otherwise provided in subsection (3) of this section, a person designated\nas trustee accepts the trusteeship:\n(a) By substantially complying with a method of acceptance provided in the terms\nof the trust; or\n(b) If the terms of the trust do not provide a method or the method provided in the\nterms is not expressly made exclusive, by accepting delivery of the trust\nproperty, exercising powers or performing duties as trustee, or otherwise\nindicating acceptance of the trusteeship.\n(2) A person designated as trustee who has not yet accepted the trusteeship may reject\nthe trusteeship. A designated trustee who does not accept the trusteeship within a\nreasonable time after knowing of the designation is deemed to have rejected the\ntrusteeship.\n(3) A person designated as trustee, without accepting the trusteeship, may:\n(a) Act to preserve the trust property if, within a reasonable time after acting, the\nperson sends a rejection of the trusteeship to the settlor or, if the settlor is dead\nor lacks capacity, to a qualified beneficiary; and\n(b) Inspect or investigate trust property to determine potential liability under\nenvironmental or other law or for any other purpose.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=43113","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:19Z","sha256":"eb83ad2bb77b1cc61f6800e7b153279645aceb498382ae3b976de3e10f4ea87a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386b.6-040","next":"us-ky/krs-386b.7-020"},"notice":"GroundRules: Original legal text. Not legal advice."}