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Arizona Revised Statutes (Last Updated: March 31, 2016) |
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Title 14. Trusts, Estates and Protective Proceedings |
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Chapter 11. ARIZONA TRUST CODE |
| Article 1. General Provisions |
| Sec 14-10101. Short title |
| Sec 14-10102. Scope |
| Sec 14-10103. Definitions |
| Sec 14-10104. Knowledge |
| Sec 14-10105. Default and mandatory rules |
| Sec 14-10106. Common law of trusts; principles of equity |
| Sec 14-10107. Governing law |
| Sec 14-10108. Principal place of administration |
| Sec 14-10109. Methods and waiver of notice |
| Sec 14-10110. Others treated as qualified beneficiaries |
| Sec 14-10111. Nonjudicial settlement agreements; definition |
| Sec 14-10112. Rules of construction |
| Article 2. Judicial Proceedings |
| Sec 14-10201. Role of court in administration of trust |
| Sec 14-10202. Jurisdiction over trustee and beneficiary |
| Sec 14-10203. Subject matter jurisdiction |
| Sec 14-10204. Venue |
| Sec 14-10205. Alternative dispute resolution |
| Article 3. Representation |
| Sec 14-10301. Representation |
| Article 4. Creation, Validity, Modification and Termination of Trust |
| Sec 14-10401. Methods of creating trust |
| Sec 14-10402. Requirements for creation |
| Sec 14-10403. Trusts created in other jurisdictions |
| Sec 14-10404. Trust purposes |
| Sec 14-10405. Charitable purposes; enforcement |
| Sec 14-10406. Creation of trust induced by fraud, duress or undue influence |
| Sec 14-10407. Evidence of oral trust |
| Sec 14-10408. Trust for care of animal |
| Sec 14-10409. Noncharitable trust without ascertainable beneficiary |
| Sec 14-10410. Modification or termination of trust; proceedings for approval or disapproval |
| Sec 14-10411. Modification or termination of noncharitable irrevocable trust by consent |
| Sec 14-10412. Modification or termination because of unanticipated circumstances or inability to administer trust effectively |
| Sec 14-10413. Cy pres |
| Sec 14-10414. Modification or termination of uneconomic trust |
| Sec 14-10415. Reformation to correct mistakes |
| Sec 14-10416. Modification to achieve settlor's tax objectives |
| Sec 14-10417. Combination and division of trusts |
| Sec 14-10418. Name change |
| Article 5. Creditor's Claims; Spendthrift and Discretionary Trusts |
| Sec 14-10501. Rights of beneficiary's creditor or assignee; exception |
| Sec 14-10502. Spendthrift provision |
| Sec 14-10503. Exceptions to spendthrift provision; definition |
| Sec 14-10504. Discretionary trusts; effect of standard; definition |
| Sec 14-10505. Creditor's claim against settlor |
| Sec 14-10506. Overdue distribution; definition |
| Sec 14-10507. Personal obligations of trustee |
| Article 6. Revocable Trusts |
| Sec 14-10602. Revocation or amendment of revocable trust |
| Sec 14-10603. Settlor's powers; powers of withdrawal |
| Sec 14-10604. Limitation on actions contesting validity or revocable trust; distribution of trust property |
| Article 7. Office of Trustee |
| Sec 14-10701. Accepting or declining trusteeship |
| Sec 14-10702. Trustee's bond |
| Sec 14-10703. Cotrustees |
| Sec 14-10704. Vacancy in trusteeship; appointment of successor |
| Sec 14-10705. Resignation of trustee |
| Sec 14-10706. Removal of trustee |
| Sec 14-10707. Delivery of property by former trustee |
| Sec 14-10708. Compensation of trustee |
| Sec 14-10709. Reimbursement of expenses |
| Article 8. Duties and Powers of Trustee and Trust Protector |
| Sec 14-10801. Duty to administer trust |
| Sec 14-10802. Duty of loyalty |
| Sec 14-10803. Impartiality |
| Sec 14-10804. Prudent administration |
| Sec 14-10805. Costs of administration |
| Sec 14-10806. Trustee's skills |
| Sec 14-10807. Delegation by trustee |
| Sec 14-10808. Powers to direct |
| Sec 14-10809. Control and protection of trust property |
| Sec 14-10810. Record keeping and identification of trust property |
| Sec 14-10811. Enforcement and defense of claims |
| Sec 14-10812. Collecting trust property |
| Sec 14-10813. Duty to inform and report |
| Sec 14-10814. Discretionary powers; tax savings |
| Sec 14-10815. General powers of trustee |
| Sec 14-10816. Specific powers of trustee |
| Sec 14-10817. Distribution on termination; release of trustee |
| Sec 14-10818. Trust protector |
| Sec 14-10819. Trustee's special power to appoint to other trust |
| Sec 14-10820. Fiduciaries; service as trustee; limitation |
| Article 9. Prudent Investor Rule |
| Sec 14-10901. Prudent investor rule |
| Sec 14-10902. Standard of care; portfolio strategy; risk and return objectives |
| Sec 14-10903. Diversification |
| Sec 14-10904. Duties at inception of trusteeship |
| Sec 14-10905. Reviewing compliance |
| Sec 14-10906. Prudent investor rule; language to invoke standard |
| Sec 14-10907. Delegation of investment and management functions; duties; limitations |
| Sec 14-10908. Life insurance on settlor; liability of trustee |
| Sec 14-10909. Application to existing trusts |
| Article 10. Liability of Trustees and Rights of Persons Dealing with Trustees |
| Sec 14-11001. Remedies for breach of trust |
| Sec 14-11002. Damages for breach of trust |
| Sec 14-11003. Damages in absence of breach |
| Sec 14-11004. Attorney fees and costs |
| Sec 14-11005. Limitation of action against trustee |
| Sec 14-11006. Reliance on trust instrument |
| Sec 14-11007. Event affecting administration or distribution |
| Sec 14-11008. Exculpation of trustee |
| Sec 14-11009. Beneficiary's consent, release or ratification |
| Sec 14-11010. Limitation on personal liability of trustee |
| Sec 14-11011. Interest as general partner |
| Sec 14-11012. Protection of person dealing with trustee |
| Sec 14-11013. Certification of trust |
| Sec 14-11014. Total return trusts; definitions |
| Sec 14-11015. Express total return unitrusts; definition |
| Article 11. Miscellaneous Provisions |
| Sec 14-11101. Electronic records and signatures |
| Sec 14-11102. Severability clause |