Massachusetts General Laws ch. 203E sec. 1008 – Exculpation of trustee
Current as of: 2023 | Check for updates
|
Other versions
Section 1008. Exculpation of trustee
Terms Used In Massachusetts General Laws ch. 203E sec. 1008
- Fiduciary: A trustee, executor, or administrator.
- Trustee: A person or institution holding and administering property in trust.
(a) A term of a trust relieving a trustee of liability for breach of trust shall be 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 inserted as the result of an abuse by the trustee of a fiduciary or confidential relationship to the settlor.
(b) An exculpatory term drafted or caused to be drafted by the trustee may be invalid as an abuse of a fiduciary or confidential relationship unless the trustee proves that its existence and contents were adequately communicated to the settlor.