§ 8103. Fiduciary duties; general principles
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 20 Pa.C.S.A. Decedents, Estates and FiduciariesEffective: July 15, 2002
Effective: July 15, 2002
20 Pa.C.S.A. § 8103
§ 8103. Fiduciary duties; general principles
(2) A fiduciary may administer a trust or estate by the exercise of a discretionary power of administration regarding a matter within the scope of this chapter given to the fiduciary by the governing instrument, even if the exercise of the power produces a result different from a result required or permitted by this chapter. No inference that the fiduciary has improperly exercised the discretionary power shall arise from the fact that the fiduciary has made an allocation contrary to a provision of this chapter.
(b) Discretionary power.--In exercising a discretionary power of administration regarding a matter within the scope of this chapter, whether granted by the governing instrument or this chapter, including sections 8104 (relating to trustee's power to adjust) and 8105 (relating to power to convert to unitrust), a fiduciary shall administer a trust or estate impartially based on what is fair and reasonable to all of the beneficiaries, except to the extent that the governing instrument clearly manifests an intention that the fiduciary shall or may favor one or more of the beneficiaries. A determination in accordance with this chapter is presumed to be fair and reasonable to all of the beneficiaries.
Credits
2002, May 16, P.L. 330, No. 50, § 13, effective in 60 days.
20 Pa.C.S.A. § 8103, PA ST 20 Pa.C.S.A. § 8103
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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