(a) A trustee is accountable to an affected beneficiary for any profit made by the trustee arising from the administration of the trust, even absent a breach of trust.
(b) Absent a breach of trust, a trustee is not liable to a beneficiary for a loss or depreciation in the value of trust property or for not having made a profit.
(Mar. 10, 2004, D.C. Law 15-104, § 2(b), 51 DCR 208.)
Uniform Law: This section is based upon § 1003 of the Uniform Trust Code.
Structure District of Columbia Code
Title 19 - Descent, Distribution, and Trusts. [Enacted title]
Chapter 13 - Uniform Trust Code
Subchapter X - Liability of Trustees and Rights of Persons Dealing with Trustee
§ 19–1310.01. Remedies for breach of trust
§ 19–1310.02. Damages for breach of trust
§ 19–1310.03. Damages in absence of breach
§ 19–1310.04. Attorney’s fees and costs
§ 19–1310.05. Limitation of action against trustee
§ 19–1310.06. Reliance on trust instrument
§ 19–1310.07. Event affecting administration or distribution
§ 19–1310.08. Exculpation of trustee
§ 19–1310.09. Beneficiary’s consent, release, or ratification
§ 19–1310.10. Limitation on personal liability of trustee
§ 19–1310.11. Interest as general partner