Washington Code 11.98.107 – Trustee exculpation
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(1) An exculpatory term which was inserted as the result of an abuse of a fiduciary or confidential relationship between the trustor and the trustee is unenforceable.
Terms Used In Washington Code 11.98.107
- Fiduciary: A trustee, executor, or administrator.
- Trustee: means an original, added, or successor trustee and includes the state, or any agency thereof, when it is acting as the trustee of a trust to which chapter 11. See Washington Code 11.02.005
- Trustee: A person or institution holding and administering property in trust.
- Trustor: means a person, including a testator, who creates, or contributes property to, a trust. See Washington Code 11.02.005
- Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
(2) An exculpatory term drafted or caused to be drafted by the trustee is invalid as an abuse of a fiduciary or confidential relationship unless the trustee proves that the exculpatory term is fair under the circumstances and that its existence and contents were adequately communicated to the trustor.
[ 2011 c 327 § 29.]
NOTES:
Application—Effective date—2011 c 327: See notes following RCW 11.103.020.