A trustee who acts in reasonable reliance on the terms of the trust as expressed in the trust instrument is not liable to a beneficiary for a breach of trust to the extent the breach resulted from the reliance.
Effective: July 15, 2014
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Terms Used In Kentucky Statutes 386B.10-060

  • Trust: means an express trust established by a trust instrument, including a will, whereby a trustee has the duty to administer a trust asset for the benefit of a named or otherwise described income or principal beneficiary, or both. See Kentucky Statutes 386B.1-010
  • Trust instrument: means an instrument signed by the settlor that contains terms of the trust, including any amendments thereto. See Kentucky Statutes 386B.1-010

History: Created 2014 Ky. Acts ch. 25, sec. 84, effective July 15, 2014.

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