Liability of Trustee for Lack of Knowledge of Event Affecting Administration or Distribution of Trust

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  6. Liability of Trustee for Lack of Knowledge of Event Affecting Administration or Distribution of Trust

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Sec. 6.5. If the happening of an event, including:

(1) marriage;

(2) divorce;

(3) performance of educational requirements; or

(4) death;

affects the administration or distribution of a trust, a trustee who has exercised reasonable care to ascertain the happening of the event is not liable for a loss resulting from the trustee's lack of knowledge.

As added by P.L.238-2005, SEC.33.


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