(a) (1) A violation by a trustee of a duty the trustee owes to a beneficiary is a breach of trust. (2) A breach of trust under this subsection may occur by reason of an action or by reason of a failure to act. (b) To remedy a breach of trust by the trustee that has occurred or may […]
(a) A trustee that commits a breach of trust is liable to the beneficiaries affected by the breach for the greater of: (1) 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 (2) The profit the trustee made by reason of […]
Absent a breach of trust or the applicable standard of care, a trustee is not liable to a beneficiary for a loss or depreciation in the value of trust property or for not having made a profit.
(a) Except as otherwise provided in § 14.5–907 of this subtitle, a beneficiary may not bring a judicial action against a trustee for breach of trust more than 1 year after the date that the beneficiary or the representative of the beneficiary is sent a report that adequately discloses the existence of a potential claim for […]
(a) A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that the term: (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; (2) Was inserted into the […]
(a) In this section, “interested party” means a beneficiary, representative of a beneficiary, co–trustee, successor trustee, or any other person having an interest in or authority over a trust. (b) 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 […]
(a) Except as otherwise provided in the contract, a trustee is not personally liable on a contract properly entered into by the trustee in the fiduciary capacity of the trustee in the course of administering the trust if the trustee in the contract disclosed the fiduciary capacity. (b) A claim based on a contract entered into by […]
(a) In the absence of actual knowledge or of reasonable cause to inquire as to whether a trustee is improperly exercising the trustee’s power, a person dealing with a trustee need not inquire whether a trustee is properly exercising the power of the trustee and is protected as if the trustee properly exercised the power. (b) A […]
(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 address of the currently […]
