Current through 2023 Legislative Session
Section 16618 - No duty to monitor, inform or advise(a)(1) Unless the terms of a trust provide otherwise, a trustee does not have a duty to do either of the following:(A) Monitor a trust director.(B) Inform or give advice to a settlor, beneficiary, trustee, or trust director concerning an instance in which the trustee might have acted differently than the trust director.(2) By taking an action described in paragraph (1), a trustee does not assume the duty excluded by paragraph (1).(b)(1) Unless the terms of a trust provide otherwise, a trust director does not have a duty to do either of the following: (A) Monitor a trustee or another trust director.(B) Inform or give advice to a settlor, beneficiary, trustee, or another trust director concerning an instance in which the trust director might have acted differently than a trustee or another trust director.(2) By taking an action described in paragraph (1), a trust director does not assume the duty excluded by paragraph (1).Added by Stats 2023 ch 721 (SB 801),s 3, eff. 1/1/2024.