Fiduciary's liability for action or inaction of trustee, trust advisor, and trust protector

  1. Law
  2. Mississippi Code
  3. Trusts and Estates
  4. Mississippi Uniform Trust Code
  5. Trust Advisors and Trust Protectors
  6. Fiduciary's liability for action or inaction of trustee, trust advisor, and trust protector

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An excluded fiduciary is not liable, either individually or as a fiduciary, for:

  1. Any loss resulting from compliance with a direction of a trustee, trust advisor, or trust protector, including, but not limited to, any loss from the trustee, trust advisor, or trust protector breaching fiduciary responsibilities or acting beyond the trustee's, trust advisor's, or trust protector's scope of authority;
  2. Any loss resulting from any action or inaction of a trustee, trust advisor, or trust protector; or
  3. Any loss that results from the failure of a trustee, trust advisor, or trust protector to take any action proposed by the excluded fiduciary where the action requires the authorization of the trustee, trust advisor, or trust protector, if an excluded fiduciary who had a duty to propose the action timely sought but failed to obtain the authorization.


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