Current through Chapter 253 of the 2024 Legislative Session
Section 554D-1001 - Remedies for breach of trust(a) A violation by a trustee of a duty the trustee owes to a beneficiary is a breach of trust. A breach of trust may occur by reason of an action or by reason of a failure to act.(b) To remedy a breach of trust that has occurred or may occur, the court may: (1) Compel the trustee to perform the trustee's duties;(2) Enjoin the trustee from committing a breach of trust;(3) Compel the trustee to redress a breach of trust by paying money, restoring property, or other means;(4) Order a trustee to account;(5) Appoint a special fiduciary to take possession of the trust property and administer the trust;(7) Remove the trustee as provided in section -706;(8) Reduce or deny compensation to the trustee;(9) Subject to section -1012, void an act of the trustee, impose a lien or a constructive trust on trust property, or trace trust property wrongfully disposed of and recover the property or its proceeds;(10) Order that the trustee, not the trust, shall bear the trustee's attorney's fees and those incurred by other parties to the trust; or(11) Order any other appropriate relief, including punitive damages.(c) The court, for cause shown, may relieve a trustee from liability for any breach of trust or wholly or partly excuse a trustee who has acted honestly and reasonably from liability for a breach of trust.Added by L 2021, c 32,§ 2, eff. 1/1/2022.