Idaho Code 15-7-302 – Trustee’S Standard of Care and Performance
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 15-7-302
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Property: includes both real and personal property. See Idaho Code 73-114
- Trustee: A person or institution holding and administering property in trust.
Except as otherwise provided by the terms of the trust, the trustee shall observe the standards in dealing with the trust assets that would be observed by a prudent man dealing with the property of another, and if the trustee has special skills or is named trustee on the basis of representations of special skills or expertise, he is under a duty to use those skills.