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KRS 386B.10-030

Damages in absence of breach

Known as the Uniform Trust Code

The act spans §§ 386B.10-010 to 386B.9-010 (95 sections).

Effective: July 15, 2014 History: Created 2014 Ky

(1) A trustee is accountable to an affected beneficiary for any profit made by the trustee arising from the administration of the trust, except the reasonable fee charged by the trustee, even absent a breach of trust.

(2) Absent a breach of trust, a trustee is not liable to a beneficiary for a loss or depreciation in the value of trust property or for not having made a profit.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.