Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
director, a trustee that is subject to the power is called a directed trustee, and the trust is a directed trust.
California Probate Code — §§ 16600-16632
Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
director, a trustee that is subject to the power is called a directed trustee, and the trust is a directed trust.
Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
For purposes of this chapter, the following definitions shall apply:
direction” means a power over a trust granted to a person by the terms of the trust to the extent the power is exercisable while the person is not serving as a trustee. Power of direction includes a power over the investment, management, or distribution of trust property or other matters of trust administration. The term excludes the powers described in subdivision (a) of Section 16606.
the extent another person has the power to revoke or withdraw that portion.
granted a power of direction by the terms of a trust, to the extent the power is exercisable while the person is not serving as a trustee. The person is a trust director whether or not the terms of the trust refer to the person as a trust director and whether or not the person is a beneficiary or settlor of the trust.
Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
with the designated jurisdiction in a directed trust, terms of the trust that designate the principal place of administration of the trust are valid and controlling if all of the following are met:
Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
Notwithstanding any other law, the consent of the public administrator, public guardian, or public conservator is required before they may be appointed to act as a trust director or directed trustee.
Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
both of the following apply:
Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
A trust director is subject to the same rules as a trustee in a like position and under similar circumstances in the exercise or nonexercise of a power of direction or further power under subdivision (b) of Section 16608 regarding either of the following:
Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
terms of the trust could vary the duty or liability of a trustee in a like position and under similar circumstances.
Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
another trust director from liability for breach of trust is not effective if any of the following is true:
trustee in addition to the duties and liabilities under this section.
Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
breach of trust to the extent the breach resulted from the reliance, unless by so acting the trustee engages in willful misconduct.
Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
(A) Monitor a trust director.
(B) Inform or give advice to a settlor, beneficiary, trustee, or trust director concerning an instance in which the trustee might have acted differently than the trust director.
the terms of a trust provide otherwise, a trust director does not have a duty to do either of the following:
(A) Monitor a trustee or another trust director.
(B) Inform or give advice to a settlor, beneficiary, trustee, or another trust director concerning an instance in which the trust director might have acted differently than a trustee or another trust director.
Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
The terms of a trust may relieve a cotrustee from duty and liability with respect to another cotrustee’s exercise or nonexercise of a power of the other cotrustee to the same extent that, in a directed trust, a directed trustee is relieved from duty and liability with respect to a trust director’s power of direction under Sections 16614, 16616, and 16618.
Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
In an action against a trust director for breach of trust, the director may assert the same defenses a trustee in a like position and under similar circumstances could assert in an action for breach of trust against the trustee.
Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
Unless the terms of a trust provide otherwise, the rules applicable to a trustee apply to a trust director regarding all of the following matters:
Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
In applying and construing this chapter, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.
This chapter modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit, or supersede Section 101(c) of that act, 15 U.S.C. Section 7001(c), or authorize electronic delivery of any of the notices described in Section 103(b) of that act, 15 U.S.C. Section 7003(b).