Section 4-10-1006 – Reliance on Trust Instrument.
4-10-1006. Reliance on trust instrument. A fiduciary 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.
Section 4-10-1001 – Remedies for Breach of Trust.
4-10-1001. Remedies for breach of trust. (a) A violation by a fiduciary of a duty the fiduciary owes to a beneficiary is a breach of trust. (b) To remedy a breach of trust that has occurred or may occur, the court may: (i) Compel the fiduciary to perform the fiduciary’s duties; (ii) Enjoin the fiduciary […]
Section 4-10-1002 – Damages for Breach of Trust.
4-10-1002. Damages for breach of trust. (a) A fiduciary who commits a breach of trust is liable to the beneficiaries affected for the greater of: (i) The amount required to restore the value of the trust property and trust distributions to what they would have been had the breach not occurred; or (ii) The profit […]
Section 4-10-1003 – Damages in Absence of Breach.
4-10-1003. Damages in absence of breach. (a) A fiduciary is accountable to an affected beneficiary for any profit made by the fiduciary arising from the administration of the trust, even absent a breach of trust. (b) Absent a breach of trust, a fiduciary is not liable to a beneficiary for a loss or depreciation in […]