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Michigan Compiled Laws, Chapter 700. Estates and Protected Individuals Code § 700.7903

Current as of January 01, 2025 | Updated by Findlaw Staff

Sec. 7903. (1) A trustee is accountable to an affected trust beneficiary for any profit made by the trustee arising from the administration of the trust, even absent a breach of trust.

(2) Absent a breach of trust, a trustee is not liable to a trust beneficiary for a loss or depreciation in the value of trust property, for failure to generate income, or for not having made a profit.

(3) This section does not do either of the following:

(a) Limit a trustee's right to compensation under section 7708  1 or payments allowed under section 7802(5). 2

(b) Make a trustee accountable to an affected beneficiary in connection with a matter to which section 4405 of the banking code of 1999, 1999 PA 276, MCL 487.14405, applies and the requirements of that section have been satisfied.

1 M.C.L.A. § 700.7708.
2 M.C.L.A. § 700.7802.
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Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 700. Estates and Protected Individuals Code § 700.7903 - last updated January 01, 2025 | https://codes.findlaw.com/mi/chapter-700-estates-and-protected-individuals-code/mi-comp-laws-700-7903/

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