Section 46A-10-1005 – Limitation of action against trustee.
A. A beneficiary shall not commence a proceeding against a trustee for breach of trust more than one year after the date the beneficiary or a representative of the beneficiary was sent a report that adequately disclosed the existence of a potential claim for breach of trust and informed the beneficiary of the time allowed […]
Section 46A-10-1006 – Reliance on trust instrument.
A trustee who acts in reasonable reliance on the terms of the trust as expressed in the trust instrument is not liable to a beneficiary for a breach of trust to the extent the breach resulted from the reliance. History: Laws 2003, ch. 122, § 10-1005; recompiled as § 46A-10-1006 by Laws 2007, ch. 128, […]
Section 46A-10-1007 – Event affecting administration or distribution.
If the happening of an event, including marriage, divorce, performance of educational requirements or death, affects the administration or distribution of a trust, a trustee who has exercised reasonable care to ascertain the happening of the event is not liable for a loss resulting from the trustee’s lack of knowledge. History: Laws 2003, ch. 122, […]
Section 46A-10-1008 – Exculpation of trustee.
A. A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that it: (1) relieves 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 (2) was […]
Section 46A-10-1009 – Beneficiary’s consent, release or ratification.
A trustee is not liable to a beneficiary for breach of trust if the beneficiary consented to the conduct constituting the breach, released the trustee from liability for the breach or ratified the transaction constituting the breach, unless: A. the consent, release or ratification of the beneficiary was induced by improper conduct of the trustee; […]
Section 46A-10-1010 – Limitation on personal liability of trustee.
A. Except as otherwise provided in the contract, a trustee is not personally liable on a contract properly entered into in the trustee’s fiduciary capacity in the course of administering the trust if the trustee in the contract disclosed the fiduciary capacity. B. A trustee is personally liable for torts committed in the course of […]
Section 46A-10-1011 – Interest as general partner.
A. Except as otherwise provided in Subsection C of this section or unless personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered into by the partnership after the trust’s acquisition of the interest […]
Section 46A-10-1012 – Protection of person dealing with trustee.
A. A person other than a beneficiary who in good faith assists a trustee, or who in good faith and for value deals with a trustee, without knowledge that the trustee is exceeding or improperly exercising the trustee’s powers is protected from liability as if the trustee properly exercised the power. B. A person other […]
Section 46A-10-1013 – Certification of trust.
A. Instead of furnishing a copy of the trust instrument to a person other than a beneficiary, the trustee may furnish to the person a certification of trust containing the following information: (1) that the trust exists and the date the trust instrument was executed; (2) the identity of the settlor; (3) the identity and […]
Section 46A-10-1004 – Attorney fees and costs.
In a judicial proceeding involving the administration of a trust, the court, as justice and equity may require, may award costs and expenses, including reasonable attorney fees, to any party, to be paid by another party or from the trust that is the subject of the controversy. History: Laws 2003, ch. 122, § 10-1004. ANNOTATIONS […]