7705 - Trust instrument controls; mandatory rules - UTC 105.
§ 7705. Trust instrument controls; mandatory rules - UTC 105. (a) Trust instrument controls.--Except as provided in subsection (b), the provisions of a trust instrument prevail over any contrary provisions of this chapter. (b) Mandatory rules.--Notwithstanding a contrary provision in the trust instrument, the following rules apply: (1) The requirements for creating a trust set forth in section 7732 (relating to requirements for creation - UTC 402). (2) The duty of a trustee to act in good faith and in accordance with the purposes of the trust as set forth in section 7771 (relating to duty to administer trust - UTC 801). (3) The requirement in section 7734 (relating to trust purposes - UTC 404) that a trust's purpose be lawful and not contrary to public policy. (4) The power of the court to modify or terminate a trust under sections 7740 (relating to termination of trusts; proceedings for termination or modification of trusts - UTC 410) through 7740.6 (relating to modification to achieve settlor's tax objectives - UTC 416). (5) The effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in Subchapter E (relating to creditor's claims; spendthrift and discretionary trusts). (6) The power of the court under section 7762 (relating to trustee's bond - UTC 702). (7) The power of the court under section 7768(b) (relating to compensation of trustee - UTC 708) to adjust a trustee's compensation specified in the trust instrument. (8) The duty of a trustee under section 7780.3 (relating to duty to inform and report). (9) (Reserved). (10) The effect of an exculpatory term under section 7788 (relating to exculpation of trustee - UTC 1008). (11) The rights under sections 7790 (relating to limitation on personal liability of trustee - UTC 1010) through 7790.3 (relating to certification of trust - UTC 1013) of a person other than a trustee or beneficiary. (12) Periods of limitation for commencing a judicial proceeding. (13) The power of the court to take action and exercise jurisdiction as may be necessary in the interests of justice. (14) The subject matter jurisdiction of the court described in Chapter 7 (relating to orphans' court divisions) and venue for commencing a proceeding as provided in section 7714 (relating to venue - UTC 204). Cross References. Section 7705 is referred to in section 7707 of this title.