(a) If a personal representative breaches a fiduciary duty, the personal representative is chargeable with any of the following that is appropriate under the circumstances:
(1) Any loss or depreciation in value of the decedent’s estate resulting from the breach of duty, with interest.
(2) Any profit made by the personal representative through the breach of duty, with interest.
(3) Any profit that would have accrued to the decedent’s estate if the loss of profit is the result of the breach of duty.
(b) If the personal representative has acted reasonably and in good faith under the circumstances as known to the personal representative, the court, in its discretion, may excuse the personal representative in whole or in part from liability under subdivision (a) if it would be equitable to do so.
(Enacted by Stats. 1990, Ch. 79.)