Liability for breach of trust

• Who may bring a personal claim against trustees for losses from breach of trust?

  Beneficiaries
• What is the liability of trustees in the case of a breach of trust?

  Trustees are personally liable
• What burden do beneficiaries have when claiming for losses from a breach of trust?

  Beneficiaries have the burden of proving the loss
• What happens if there is more than one breach of trust?

  Any gain from a breach cannot be used to offset a loss from another
• Is a trustee vicariously liable for the acts of their co-trustee?

  No, only the individual trustee is liable
• What may other trustees be liable for in relation to a breach of trust?

  Other trustees may be liable for failing to supervise
• Under what condition can a beneficiary not sue for a breach of trust?

  If the beneficiary of full age and capacity consented to the action with full knowledge of material facts
• What is the limitation period for bringing a claim for breach of trust?

  6 years
• When does the limitation period for a breach of trust not begin to run?

  If the beneficiary has an interest in the remainder until it is in their possession
• Is there a limitation period for claims involving fraud or recovering trust property?

  No limitation period exists for fraud or recovering trust property
• What is the liability of multiple trustees who committed a breach of trust?

  They are jointly and severally liable
• What power does the court have regarding the liability of trustees?

  The court can apportion liability as it deems just and equitable
• What does an exclusion clause in trust documents provide?

  It provides that the trustee is not liable for negligence
• Under what conditions is an exclusion clause enforceable?

  Only if there is no bad faith or recklessness by the trustee
• What discretion do courts have regarding trustees' actions?

  Courts can award relief if the trustee acted honestly and reasonably