Sec. 45a-542b. Fiduciary duties.
Sec. 45a-542b. Fiduciary duties. (a) In allocating receipts and disbursements to
or between principal and income, and with respect to any matter within the scope of
sections 45a-542d to 45a-542h, inclusive, a fiduciary:
(1) Shall administer a trust or estate in accordance with the terms of the trust or the
will, even if there is a different provision in sections 45a-542 to 45a-542ff, inclusive;
(2) May administer a trust or estate by the exercise of a discretionary power of
administration given to the fiduciary by the terms of the trust or the will, even if the
exercise of the power produces a result different from a result required or permitted by
sections 45a-542 to 45a-542ff, inclusive;
(3) Shall administer a trust or estate in accordance with sections 45a-542 to 45a-542ff, inclusive, if the terms of the trust or the will do not contain a different provision
or do not give the fiduciary a discretionary power of administration; and
(4) Shall add a receipt or charge a disbursement to principal to the extent that the
terms of the trust and sections 45a-542 to 45a-542ff, inclusive, do not provide a rule for
allocating the receipt or disbursement to or between principal and income.
(b) In exercising the power to adjust under subsection (a) of section 45a-542c or a
discretionary power of administration regarding a matter within the scope of sections
45a-542 to 45a-542ff, inclusive, whether granted by the terms of a trust, a will or said
sections, 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 terms of the trust
or the will clearly manifest an intention that the fiduciary shall or may favor one or more
of the beneficiaries. A determination in accordance with sections 45a-542 to 45a-542ff,
inclusive, is presumed to be fair and reasonable to all of the beneficiaries.
(P.A. 99-164, S. 3, 36.)
History: P.A. 99-164 effective January 1, 2000.