Liability for Breach of Trust by Co-Trustee

  1. Law
  2. Indiana Code
  3. Trusts and Fiduciaries
  4. Trust Code
  5. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust
  6. Liability for Breach of Trust by Co-Trustee

Checkout our iOS App for a better way to browser and research.

Sec. 12. (Liability for Breach of Trust by Co-Trustee)

A trustee becomes liable to the beneficiary for a breach of trust committed by his co-trustee if he:

(a) participates in the breach of trust;

(b) improperly delegates the administration of the trust to the co-trustee;

(c) approves, acquiesces in or conceals a breach of trust;

(d) enables the co-trustee to commit a breach of trust by his failure to exercise care in the administration of the trust; or

(e) fails to use reasonable effort to compel the co-trustee, or, if the co-trustee has died, his estate, to redress a breach of trust.

Formerly: Acts 1971, P.L.416, SEC.4.


Download our app to see the most-to-date content.