456.10-1008. Exculpation of trustee. - Missouri Statutes

State Codes and Statutes

Statutes > Missouri > T31 > C456 > 456_10-1008

Exculpation of trustee.

456.10-1008. 1. A term of a trust relieving a trustee of liabilityfor breach of trust is unenforceable to the extent that it:

(1) relieves the trustee of liability for breach of trust committedin bad faith or with reckless indifference to the purposes of the trust orthe interests of the beneficiaries; or

(2) was inserted as the result of an abuse by the trustee of afiduciary or confidential relationship to the settlor.

2. Unless the settlor was represented by an attorney not employed bythe trustee with respect to the trust containing the exculpatory term, anexculpatory term drafted or caused to be drafted by the trustee is invalidas an abuse of a fiduciary or confidential relationship unless the trusteeproves that the exculpatory term is fair under the circumstances and thatits existence and contents were adequately communicated to the settlor.

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

State Codes and Statutes

Statutes > Missouri > T31 > C456 > 456_10-1008

Exculpation of trustee.

456.10-1008. 1. A term of a trust relieving a trustee of liabilityfor breach of trust is unenforceable to the extent that it:

(1) relieves the trustee of liability for breach of trust committedin bad faith or with reckless indifference to the purposes of the trust orthe interests of the beneficiaries; or

(2) was inserted as the result of an abuse by the trustee of afiduciary or confidential relationship to the settlor.

2. Unless the settlor was represented by an attorney not employed bythe trustee with respect to the trust containing the exculpatory term, anexculpatory term drafted or caused to be drafted by the trustee is invalidas an abuse of a fiduciary or confidential relationship unless the trusteeproves that the exculpatory term is fair under the circumstances and thatits existence and contents were adequately communicated to the settlor.

(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_10-1008

Exculpation of trustee.

456.10-1008. 1. A term of a trust relieving a trustee of liabilityfor breach of trust is unenforceable to the extent that it:

(1) relieves the trustee of liability for breach of trust committedin bad faith or with reckless indifference to the purposes of the trust orthe interests of the beneficiaries; or

(2) was inserted as the result of an abuse by the trustee of afiduciary or confidential relationship to the settlor.

2. Unless the settlor was represented by an attorney not employed bythe trustee with respect to the trust containing the exculpatory term, anexculpatory term drafted or caused to be drafted by the trustee is invalidas an abuse of a fiduciary or confidential relationship unless the trusteeproves that the exculpatory term is fair under the circumstances and thatits existence and contents were adequately communicated to the settlor.

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