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Current as of January 01, 2024 | Updated by FindLaw Staff
(UDTA 9) (a) Subject to subsections (b) and (c) of this section, a directed trustee shall take reasonable action to comply with a trust director's exercise or nonexercise of a power of direction or further power under subdivision (b)(1) of section 30-4306, and the trustee is not liable for the action.
(b) A directed trustee must not comply with a trust director's exercise or nonexercise of a power of direction or further power under subdivision (b)(1) of section 30-4306 to the extent that by complying the trustee would engage in willful misconduct.
(c) A directed trustee must determine that the trust director's exercise of power of direction under subsection (a) of section 30-4306 or appropriation of further power under subsection (b) of section 30-4306 is granted by the terms of the trust pursuant to subsection (c) of section 30-4306.
(d) An exercise of a power of direction under which a trust director may release a trustee or another trust director from liability for breach of trust is not effective if:
(1) the breach involved the trustee's or other director's willful misconduct;
(2) the release was induced by improper conduct of the trustee or other director in procuring the release; or
(3) at the time of the release, the director did not know the material facts relating to the breach.
(e) A directed trustee that has reasonable doubt about its duty under this section may petition the court for instructions.
(f) The terms of a trust may impose a duty or liability on a directed trustee in addition to the duties and liabilities under this section.
Cite this article: FindLaw.com - Nebraska Revised Statutes Chapter 30. Decedents' Estates; Protection of Persons and Property § 30-4309. (UDTA 9) Duty and liability of directed trustee - last updated January 01, 2024 | https://codes.findlaw.com/ne/chapter-30-decedents-estates-protection-of-persons-and-property/ne-rev-st-sect-30-4309/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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