Section 386B.1-030 - Default and mandatory rules(1) Except as otherwise provided in the terms of the trust, this chapter governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary.(2) The terms of a trust prevail over any provision of this chapter, except: (a) The requirements for creating a trust;(b) The duty of a trustee to act in good faith and in the interests of the beneficiaries;(c) The requirement that a trust and its terms be for the benefit of its beneficiaries, and that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve;(d) The power of the court to change or terminate a trust under Subchapter 4 of this chapter;(e) The effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in Subchapter 5 of this chapter;(f) The power of the court under KRS 386B.7-020 to require, dispense with, or modify or terminate a bond;(g) The power of the court under KRS 386B.7-080(2) to adjust a trustee's compensation as specified in the terms of the trust which is unreasonably low or high;(h) The duty to notify and report under KRS 386B.8-130(2);(i) The effect of an exculpatory term under KRS 386B.10-080;(j) The rights under KRS 386B.10-100, 386B.10-110, and 386B.10-120 of a person other than a trustee or beneficiary;(k) Periods of limitation for commencing a judicial proceeding;(l) The power of the court to take such action and exercise such jurisdiction as may be necessary in the interests of justice; and(m) The subject-matter jurisdiction of the court and venue for commencing a proceeding as provided in KRS 386B.2-030 and 386B.2-040.Added by 2014 Ky. Acts ch. 25,§ 3, eff. 7/15/2014.