Printable Format59-1601. Testamentary trust inventory. Within thirty (30) days after it is the duty of the first qualifying testamentary trustee to take possession of the trust property such trustee shall file with the district court where the will was admitted to probate an inventory under oath, showing by item all the trust property which shall have come to such trustee's possession or knowledge, with an estimated value thereof.
History: L. 1939, ch. 180, § 120; L. 1976, ch. 242, § 19; January 10, 1977.
Law Review and Bar Journal References:
Annotation No. 6 discussed in 1956-57 survey of law of administration of estates, Richard C. Harris, 6 K.L.R. 123, 127, 128 (1957).
Life insurance in family tax planning, Robert E. Rose, 10 K.L.R. 1, 8 (1961).
"The Kansas Uniform Trust Code," David M. English, 51 K.L.R. 311 (2003).
CASE ANNOTATIONS
1. Article applicable where administration begun after July 1, 1939. First Nat'l Bank v. Gray, 151 Kan. 558, 562, 563, 564, 99 P.2d 771.
2. Cited in allowing claim of trustee against trust estate. In re Estate of Rutherford, 154 Kan. 361, 364, 118 P.2d 553.
3. Discussed; foreign corporation cannot serve as testamentary trustee of Kansas testators' estate. In re Estate of Lowe, 155 Kan. 679, 687, 127 P.2d 512.
4. Article applies to express, not constructive trusts; dissenting opinion. Yeager v. Yeager, 155 Kan. 734, 752, 129 P.2d 242.
5. Court has jurisdiction and supervision of trust even if will provides otherwise. In re Estate of Porter, 164 Kan. 92, 98, 187 P.2d 520.
6. Court's jurisdiction and supervision of trust continues following final settlement. In re Estate of Woods, 181 Kan. 271, 274, 311 P.2d 359.
7. Probate court before code had no jurisdiction over testamentary trusts. Rice v. Sayers, 98 F. Supp. 634, 644. Reversed: 198 F.2d 724.
8. Cited in holding that venue for action to construe testamentary trust is in county where will admitted for probate. Godfrey v. Chandley, 248 Kan. 975, 983, 811 P.2d 1248 (1991).