(a) A trustee who commits a breach of trust is liable for the greater of:

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Terms Used In Minnesota Statutes 501C.1002

  • Trustee: A person or institution holding and administering property in trust.

(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 the breach.

(b) If more than one trustee is liable for a breach of trust, a trustee is entitled to contribution or indemnity from the other trustee or trustees as the court may determine.