Personal Liability of Trustee. No Trustee named in this instrument shall be personally liable to any beneficiary or to the Settlor, or to the heirs of either, or to any creditor of the trust or trust estate, for the Trustee's acts or failure to act, except for willful misconduct or gross negligence. No Trustee shall be liable or responsible for any act, omission, or default of any other Trustee.
Appears in 2 contracts
Sources: Trust Agreement, Special Needs Trust