Maine § 18-B §1008 Exculpation of trustee

Maine Statutes

§ 18-B §1008 — Exculpation of trustee

Maine·Title 18-B TRUSTS·Part 1 MAINE UNIFORM TRUST CODE·Ch. 10 LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEE

1.Exculpation unenforceable. A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that it:

2.Invalid; proof otherwise. 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 settlor.

Free access — add to your briefcase to read the full text and ask questions with AI

1.
Exculpation unenforceable.
A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that it:
2.
Invalid; proof otherwise.
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 settlor.

Maine § 18-B §1008 (Exculpation of trustee) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.