A trust may be created only to the extent its purposes are lawful, not contrary to public policy, and possible to achieve. A trust and its terms shall be for the benefit of its beneficiaries.
Effective: July 15, 2014
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Terms Used In Kentucky Statutes 386B.4-040

  • Trust: means an express trust established by a trust instrument, including a will, whereby a trustee has the duty to administer a trust asset for the benefit of a named or otherwise described income or principal beneficiary, or both. See Kentucky Statutes 386B.1-010

History: Created 2014 Ky. Acts ch. 25, sec. 26, effective July 15, 2014.

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