I am a trustee. What kind of liability do I have?
- Generally trustees are not liable to beneficiaries for any losses incurred in the management of the trust unless it is due to breach of their trust duties or fraud or negligence.
- If the trustee incurs liabilities as part of the good faith management of the trust they may be indemnified (paid back) out of the trust assets.
Read some more FAQS from our Equity & Trusts section