16460. (a) Unless a claim is previously barred by adjudication,
consent, limitation, or otherwise:
(1) If a beneficiary has received an interim or final account in
writing, or other written report, that adequately discloses the
existence of a claim against the trustee for breach of trust, the
claim is barred as to that beneficiary unless a proceeding to assert
the claim is commenced within three years after receipt of the
account or report. An account or report adequately discloses
existence of a claim if it provides sufficient information so that
the beneficiary knows of the claim or reasonably should have inquired
into the existence of the claim.
(2) If an interim or final account in writing or other written
report does not adequately disclose the existence of a claim against
the trustee for breach of trust or if a beneficiary does not receive
any written account or report, the claim is barred as to that
beneficiary unless a proceeding to assert the claim is commenced
within three years after the beneficiary discovered, or reasonably
should have discovered, the subject of the claim.
(b) For the purpose of subdivision (a), a beneficiary is deemed to
have received an account or report, as follows:
(1) In the case of an adult who is reasonably capable of
understanding the account or report, if it is received by the adult
personally.
(2) In the case of an adult who is not reasonably capable of
understanding the account or report, if it is received by the person'
s legal representative, including a guardian ad litem or other person
appointed for this purpose.
(3) In the case of a minor, if it is received by the minor's
guardian or, if the minor does not have a guardian, if it is received
by the minor's parent so long as the parent does not have a conflict
of interest.
(c) A written account or report under this section may, but need
not, satisfy the requirements of Section 16061 or 16063 or any other
provision.
16461. (a) Except as provided in subdivision (b), (c), or (d), the
trustee can be relieved of liability for breach of trust by
provisions in the trust instrument.
(b) A provision in the trust instrument is not effective to
relieve the trustee of liability (1) for breach of trust committed
intentionally, with gross negligence, in bad faith, or with reckless
indifference to the interest of the beneficiary, or (2) for any
profit that the trustee derives from a breach of trust.
(c) Subject to subdivision (b), a provision in a trust instrument
that releases the trustee from liability if a beneficiary fails to
object to an item in an interim or final account or other written
report within a specified time period is effective only if all of the
following conditions are met:
(1) The account or report sets forth the item.
(2) The period specified in the trust instrument for the
beneficiary to object is not less than 180 days, or the trustee
elects to follow the procedure provided in subdivision (d).
(3) Written notice in 12-point boldface type is provided to a
beneficiary with the account or report in the following form:
NOTICE TO BENEFICIARIES
YOU HAVE
16460. (a) Unless a claim is previously barred by adjudication,
consent, limitation, or otherwise:
(1) If a beneficiary has received an interim or final account in
writing, or other written report, that adequately discloses the
existence of a claim against the trustee for breach of trust, the
claim is barred as to that beneficiary unless a proceeding to assert
the claim is commenced within three years after receipt of the
account or report. An account or report adequately discloses
existence of a claim if it provides sufficient information so that
the beneficiary knows of the claim or reasonably should have inquired
into the existence of the claim.
(2) If an interim or final account in writing or other written
report does not adequately disclose the existence of a claim against
the trustee for breach of trust or if a beneficiary does not receive
any written account or report, the claim is barred as to that
beneficiary unless a proceeding to assert the claim is commenced
within three years after the beneficiary discovered, or reasonably
should have discovered, the subject of the claim.
(b) For the purpose of subdivision (a), a beneficiary is deemed to
have received an account or report, as follows:
(1) In the case of an adult who is reasonably capable of
understanding the account or report, if it is received by the adult
personally.
(2) In the case of an adult who is not reasonably capable of
understanding the account or report, if it is received by the person'
s legal representative, including a guardian ad litem or other person
appointed for this purpose.
(3) In the case of a minor, if it is received by the minor's
guardian or, if the minor does not have a guardian, if it is received
by the minor's parent so long as the parent does not have a conflict
of interest.
(c) A written account or report under this section may, but need
not, satisfy the requirements of Section 16061 or 16063 or any other
provision.
16461. (a) Except as provided in subdivision (b), (c), or (d), the
trustee can be relieved of liability for breach of trust by
provisions in the trust instrument.
(b) A provision in the trust instrument is not effective to
relieve the trustee of liability (1) for breach of trust committed
intentionally, with gross negligence, in bad faith, or with reckless
indifference to the interest of the beneficiary, or (2) for any
profit that the trustee derives from a breach of trust.
(c) Subject to subdivision (b), a provision in a trust instrument
that releases the trustee from liability if a beneficiary fails to
object to an item in an interim or final account or other written
report within a specified time period is effective only if all of the
following conditions are met:
(1) The account or report sets forth the item.
(2) The period specified in the trust instrument for the
beneficiary to object is not less than 180 days, or the trustee
elects to follow the procedure provided in subdivision (d).
(3) Written notice in 12-point boldface type is provided to a
beneficiary with the account or report in the following form:
NOTICE TO BENEFICIARIES
YOU HAVE
16460. (a) Unless a claim is previously barred by adjudication,
consent, limitation, or otherwise:
(1) If a beneficiary has received an interim or final account in
writing, or other written report, that adequately discloses the
existence of a claim against the trustee for breach of trust, the
claim is barred as to that beneficiary unless a proceeding to assert
the claim is commenced within three years after receipt of the
account or report. An account or report adequately discloses
existence of a claim if it provides sufficient information so that
the beneficiary knows of the claim or reasonably should have inquired
into the existence of the claim.
(2) If an interim or final account in writing or other written
report does not adequately disclose the existence of a claim against
the trustee for breach of trust or if a beneficiary does not receive
any written account or report, the claim is barred as to that
beneficiary unless a proceeding to assert the claim is commenced
within three years after the beneficiary discovered, or reasonably
should have discovered, the subject of the claim.
(b) For the purpose of subdivision (a), a beneficiary is deemed to
have received an account or report, as follows:
(1) In the case of an adult who is reasonably capable of
understanding the account or report, if it is received by the adult
personally.
(2) In the case of an adult who is not reasonably capable of
understanding the account or report, if it is received by the person'
s legal representative, including a guardian ad litem or other person
appointed for this purpose.
(3) In the case of a minor, if it is received by the minor's
guardian or, if the minor does not have a guardian, if it is received
by the minor's parent so long as the parent does not have a conflict
of interest.
(c) A written account or report under this section may, but need
not, satisfy the requirements of Section 16061 or 16063 or any other
provision.
16461. (a) Except as provided in subdivision (b), (c), or (d), the
trustee can be relieved of liability for breach of trust by
provisions in the trust instrument.
(b) A provision in the trust instrument is not effective to
relieve the trustee of liability (1) for breach of trust committed
intentionally, with gross negligence, in bad faith, or with reckless
indifference to the interest of the beneficiary, or (2) for any
profit that the trustee derives from a breach of trust.
(c) Subject to subdivision (b), a provision in a trust instrument
that releases the trustee from liability if a beneficiary fails to
object to an item in an interim or final account or other written
report within a specified time period is effective only if all of the
following conditions are met:
(1) The account or report sets forth the item.
(2) The period specified in the trust instrument for the
beneficiary to object is not less than 180 days, or the trustee
elects to follow the procedure provided in subdivision (d).
(3) Written notice in 12-point boldface type is provided to a
beneficiary with the account or report in the following form:
NOTICE TO BENEFICIARIES
YOU HAVE
