456.10-1002. Damages for breach of trust. - Missouri Statutes

State Codes and Statutes

Statutes > Missouri > T31 > C456 > 456_10-1002

Damages for breach of trust.

456.10-1002. 1. A trustee who commits a breach of trust is liable tothe beneficiaries affected for the greater of:

(1) the amount required to restore the value of the trust propertyand trust distributions to what they would have been had the breach notoccurred; or

(2) the profit the trustee made by reason of the breach.

2. Except as otherwise provided in this subsection, if more than onetrustee is liable to the beneficiaries for a breach of trust, a trustee isentitled to contribution from the other trustee or trustees that are alsoliable. A trustee is not entitled to contribution if the trustee wassubstantially more at fault than another trustee or if the trusteecommitted the breach of trust in bad faith or with reckless indifference tothe purposes of the trust or the interests of the beneficiaries. A trusteewho received a benefit from the breach of trust is not entitled tocontribution from another trustee to the extent of the benefit received.

(L. 2004 H.B. 1511)
Effective 1-01-05

State Codes and Statutes

Statutes > Missouri > T31 > C456 > 456_10-1002

Damages for breach of trust.

456.10-1002. 1. A trustee who commits a breach of trust is liable tothe beneficiaries affected for the greater of:

(1) the amount required to restore the value of the trust propertyand trust distributions to what they would have been had the breach notoccurred; or

(2) the profit the trustee made by reason of the breach.

2. Except as otherwise provided in this subsection, if more than onetrustee is liable to the beneficiaries for a breach of trust, a trustee isentitled to contribution from the other trustee or trustees that are alsoliable. A trustee is not entitled to contribution if the trustee wassubstantially more at fault than another trustee or if the trusteecommitted the breach of trust in bad faith or with reckless indifference tothe purposes of the trust or the interests of the beneficiaries. A trusteewho received a benefit from the breach of trust is not entitled tocontribution from another trustee to the extent of the benefit received.

(L. 2004 H.B. 1511)
Effective 1-01-05

State Codes and Statutes

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State Codes and Statutes

Statutes > Missouri > T31 > C456 > 456_10-1002

Damages for breach of trust.

456.10-1002. 1. A trustee who commits a breach of trust is liable tothe beneficiaries affected for the greater of:

(1) the amount required to restore the value of the trust propertyand trust distributions to what they would have been had the breach notoccurred; or

(2) the profit the trustee made by reason of the breach.

2. Except as otherwise provided in this subsection, if more than onetrustee is liable to the beneficiaries for a breach of trust, a trustee isentitled to contribution from the other trustee or trustees that are alsoliable. A trustee is not entitled to contribution if the trustee wassubstantially more at fault than another trustee or if the trusteecommitted the breach of trust in bad faith or with reckless indifference tothe purposes of the trust or the interests of the beneficiaries. A trusteewho received a benefit from the breach of trust is not entitled tocontribution from another trustee to the extent of the benefit received.

(L. 2004 H.B. 1511)
Effective 1-01-05