Connecticut General Statutes 45a-499e – Default and mandatory rules
(a) Except as provided in the terms of the trust, sections 45a-499a to 45a-500s, inclusive, govern the duties and powers of a trustee, relations among trustees and the rights and interests of a beneficiary.
Terms Used In Connecticut General Statutes 45a-499e
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: means a person that (A) has a present or future beneficial interest in a trust, vested or contingent. See Connecticut General Statutes 45a-499c
- Court: means a court of this state having jurisdiction over the matter pursuant to sections 45a-499o and 45a-499p or a court of another state having jurisdiction under the law of the other state. See Connecticut General Statutes 45a-499c
- Designated representative: means any person designated as provided in subsection (a) of section 45a-499u, unless precluded from acting by the trust instrument or applicable law. See Connecticut General Statutes 45a-499c
- Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: means an individual, corporation, statutory or business trust, estate, trust, partnership, limited liability company, association, joint venture, court, government, governmental subdivision, agency or instrumentality, public corporation or any other legal or commercial entity. See Connecticut General Statutes 45a-499c
- Qualified beneficiary: means a beneficiary that, on the date the beneficiary's qualification is determined: (A) Is a distributee or permissible distributee of trust income or principal. See Connecticut General Statutes 45a-499c
- Terms of a trust: means :
(A) Except as otherwise provided in subparagraph (B) of this subdivision, the manifestation of the settlor's intent regarding a trust's provisions as:
(i) Expressed in the trust instrument. See Connecticut General Statutes 45a-499c
- Trustee: A person or institution holding and administering property in trust.
- Trustee: includes an original, additional and successor trustee and a cotrustee. See Connecticut General Statutes 45a-499c
(b) The terms of a trust prevail over each provision of sections 45a-499a to 45a-500s, inclusive, except: (1) The requirements for creating a trust; (2) the duty of a trustee to act in good faith and in accordance with the terms and purposes of the trust; (3) the requirement of section 45a-499y that a trust have a purpose that is lawful and not contrary to public policy; (4) the power of the court to modify or terminate a trust under sections 45a-499ee to 45a-499kk, inclusive; (5) the power of the court under section 45a-499ss to require, dispense with, modify or terminate a bond; (6) the power of the court under section 45a-499yy to adjust a trustee’s compensation specified in the terms of the trust that is unreasonably low or high; (7) the duty under subdivisions (2) and (3) of subsection (b) of section 45a-499kkk to notify each qualified beneficiary of an irrevocable trust who has attained twenty-five years of age, or the designated representative of the qualified beneficiary, if any, of the existence of the trust, of the identity of the trustee, and of the right of the qualified beneficiary to request a trustee’s report; (8) the duty under subsections (a) and (c) of section 45a-499kkk to respond to the request of a qualified beneficiary of an irrevocable trust or the designated representative of the qualified beneficiary, if any, for a trustee’s report and other information reasonably related to the administration of a trust; (9) the effect of an exculpatory term under section 45a-499uuu; (10) the rights under sections 45a-499www to 45a-499zzz, inclusive, of a person other than a trustee or beneficiary; (11) periods of limitation for commencing a judicial proceeding; (12) the power of the court to take the action and exercise the jurisdiction necessary in the interests of justice; (13) the jurisdiction of the court as provided in sections 45a-499o and 45a-499p; and (14) the provisions of sections 45a-499a to 45a-500d, inclusive, dealing with judicial supervision of testamentary trusts.