SECTION 736.1011. Exculpation of trustee.
Latest version.
1(1) 2A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that the term:24(a) 25Relieves the trustee of liability for breach of trust committed in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries; or
55(b) 56Was inserted into the trust instrument as the result of an abuse by the trustee of a fiduciary or confidential relationship with the settlor.
80(2) 81An exculpatory term drafted or caused to be drafted by the trustee is invalid as an abuse of a fiduciary or confidential relationship unless:105(a) 106The trustee proves that the exculpatory term is fair under the circumstances.
118(b) 119The term’s existence and contents were adequately communicated directly to the settlor or the independent attorney of the settlor. This paragraph applies only to trusts created on or after July 1, 2007.
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