§ 7319. Directions of testator or settlor.
(a) General rule.--The testator or settlor in the instrument establishing a trust may prescribe the powers,
duties and liabilities of the fiduciary regarding the investment or noninvestment
of principal and income and the acquisition, by purchase or otherwise, retention,
and disposition, by sale or otherwise, of any property which, at any time or by reason
of any circumstance, shall come into his control; and whenever any such provision
shall conflict with this chapter, such provision shall control notwithstanding this
chapter, unless the court having jurisdiction over the trust shall otherwise decree
pursuant to subsection (b) of this section. In the absence, however, of an express
restriction to the contrary in the trust instrument, the fiduciary may invest in any
investment authorized by this chapter.
(b) Exception.--Where the instrument establishing a trust contains a restriction on the fiduciary's
power of investment and the court having jurisdiction over the trust finds that adherence
to the restriction is impractical or that the existing or reasonably foreseeable economic
conditions are so far different from those prevailing at the creation of the trust
that adherence to the restriction might deprive the respective beneficiaries of income
and principal of the full benefits the testator or settlor intended them to enjoy,
the court may release the fiduciary from the restriction to such extent and on such
conditions, if any, as the court may deem appropriate.
(Dec. 10, 1974, P.L.867, No.293, eff. imd.)
1974 Amendment. Act 293 amended subsec. (b).
Notes of Decisions
In Re Est. of Warden, 2 A.3d 565 (Pa. Super. Ct. 2010).
“— The testator or set-tlor in the instrument establishing a trust may prescribe the powers, duties and liabilities of the fiduciary regarding the investment or noninvestment of principal and income and the acquisition, by purchase or otherwise, retention, and disposition, by…”
Est. of McCredy, 470 A.2d 585 (Pa. 1983).
“20 Pa.C.S. § 7319(a). See In re Estate of Niessen, 489 Pa.”
Roseburgh Est., 36 Pa. D. & C.3d 189 (1985).
“508, 20 Pa. C.S. §7319(b), provides: “Where the instrument establishing a trust contains a restriction on the fiduciary’s power of investment and the court having jurisdiction over the trust finds that adherence to the restriction is impractical or that the existing or…”
— 20 Pa. Cons. Stat. § 7319(a) — 2 cases
In Re Est. of Warden, 2 A.3d 565 (Pa. Super. Ct. 2010).
“— The testator or set-tlor in the instrument establishing a trust may prescribe the powers, duties and liabilities of the fiduciary regarding the investment or noninvestment of principal and income and the acquisition, by purchase or otherwise, retention, and disposition, by…”
Est. of McCredy, 470 A.2d 585 (Pa. 1983).
“20 Pa.C.S. § 7319(a). See In re Estate of Niessen, 489 Pa.”
— 20 Pa. Cons. Stat. § 7319(b) — 1 case
Roseburgh Est., 36 Pa. D. & C.3d 189 (1985).
“508, 20 Pa. C.S. §7319(b), provides: “Where the instrument establishing a trust contains a restriction on the fiduciary’s power of investment and the court having jurisdiction over the trust finds that adherence to the restriction is impractical or that the existing or…”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.