New Hampshire Statutes
§ 564-B:10-1002 — Damages for Breach of Trust
New Hampshire·Title LVI PROBATE COURTS AND DECEDENTS' ESTATES·Ch. 564-B NEW HAMPSHIRE TRUST CODE·Subdivision ARTICLE 10LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEE
(a)A trustee who commits a breach of trust is liable to the beneficiaries affected for the greater of:
(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)Except as otherwise provided in this subsection, if more than one trustee is liable to the beneficiaries for a breach of trust, a trustee is entitled to contribution from the other trustee or trustees, to the extent permitted by RSA 507:7-f. However, a trustee is not entitled to contribution if the trustee was substantially more at fault than another trustee or if the trustee committed the breach of trust in bad faith or with reckless indifference to the purposes of the trust or
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New Hampshire § 564-B:10-1002 (Damages for Breach of Trust) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
2004, 130:1, eff. Oct. 1, 2004.
Nearby Sections
15
§ 564-B:1-101
Short Title§ 564-B:1-102
Scope§ 564-B:1-103
Definitions§ 564-B:1-104
Knowledge§ 564-B:1-105
Default and Mandatory Rules§ 564-B:1-106
Common Law of Trusts; Principles of Equity§ 564-B:1-107
Governing Law§ 564-B:1-108
Principal Place of Administration§ 564-B:1-109
Methods and Waiver of Notice§ 564-B:1-110
Others Treated as Qualified Beneficiaries§ 564-B:1-111
Nonjudicial Settlement Agreements§ 564-B:1-111A
Nonjudicial Dispute Resolution§ 564-B:1-112
Rules of Construction§ 564-B:1-113
Precatory Language§ 564-B:10-1001
Remedies for Breach of Trust