72-38-810. Recordkeeping and identification of trust property. (1) A trustee shall keep adequate records of the administration of the trust.

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Terms Used In Montana Code 72-38-810

  • Property: means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest therein. See Montana Code 72-38-103
  • Trustee: A person or institution holding and administering property in trust.
  • Trustee: includes an original, additional, and successor trustee and a cotrustee. See Montana Code 72-38-103

(2)A trustee shall keep trust property separate from the trustee’s own property.

(3)Except as otherwise provided in subsection (4), a trustee shall designate the trust property so that the interest of the trust, to the extent feasible, appears in records maintained by a party other than a trustee or beneficiary.

(4)If the trustee maintains records clearly indicating the respective interests, a trustee may invest as a whole the property of two or more separate trusts.