736.1011 Exculpation of trustee. - Florida Statutes

736.1011 Exculpation of trustee.

   (1) A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that the term:

   (a) Relieves the trustee of liability for breach of trust committed in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries; or

   (b) Was inserted into the trust instrument as the result of an abuse by the trustee of a fiduciary or confidential relationship with the settlor.

   (2) An exculpatory term drafted or caused to be drafted by the trustee is invalid as an abuse of a fiduciary or confidential relationship unless:

   (a) The trustee proves that the exculpatory term is fair under the circumstances.

   (b) The term’s existence and contents were adequately communicated directly to the settlor or the independent attorney of the settlor. This paragraph applies only to trusts created on or after July 1, 2007.

History. s. 10, ch. 2006-217; s. 6, ch. 2007-153.