§ 4-10-1008 — Exculpation of fiduciaries

Wyoming § 4-10-1008

• Jurisdiction: Wyoming
• Title 04: Fiduciaries
• Ch. 10: UNIFORM TRUST CODE
• Art. 10: LIABILITY OF FIDUCIARIES AND RIGHTS OF PERSONS

Text

(a) A term of a trust relieving a fiduciary of liability
for breach of trust is unenforceable to the extent that it:
(i) Relieves the fiduciary 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
(ii) Was inserted as the result of an abuse by the
fiduciary of a fiduciary or confidential relationship to the
settlor.
(b) An exculpatory term drafted or caused to be drafted by
the fiduciary is invalid as an abuse of a fiduciary or
confidential relationship unless the fiduciary proves that the
exculpatory term is fair under the circumstances and that its
existence and contents were adequately communicated to the
settlor.