Delaware Code Title 12 Sec. 3586 – Reliance on governing instrument
Current as of: 2023 | Check for updates
|
Other versions
A trustee who acted in good faith reliance on the terms of a written governing instrument is not liable to a beneficiary for a breach of trust to the extent the breach resulted from the reliance.
Terms Used In Delaware Code Title 12 Sec. 3586
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Trustee: A person or institution holding and administering property in trust.