Whenever, pursuant to the terms of a trust, an excluded fiduciary is to follow the direction of a trustee, trust advisor, or trust protector with respect to investment decisions, distribution decisions, or other decisions of the nonexcluded fiduciary, then, except to the extent that the terms of the trust provide otherwise, the excluded fiduciary shall have no duty to:
Absent provisions in the trust instrument to the contrary, the actions of the excluded fiduciary pertaining to matters within the scope of the trustee, trust advisor, or trust protector's authority, including, but not limited to, confirming that the trustee, trust advisor, or trust protector's directions have been carried out and recording and reporting actions taken at the trustee, trust advisor, or trust protector's direction or other information pursuant to Section 91-8-813, shall be deemed to be administrative actions taken by the excluded fiduciary solely to allow the excluded fiduciary to perform those duties assigned to the excluded fiduciary under the terms of the trust; those administrative actions, as well as any communications made by the excluded fiduciary to the trust advisor, trust protector, or any of their agents or persons they have selected to provide services to the trust, shall not be deemed to constitute an undertaking by the excluded fiduciary to monitor the trustee, trust advisor, or trust protector or otherwise participate in actions within the scope of the trustee's, trust advisor's, or trust protector's authority.
Structure Mississippi Code
Chapter 8 - Mississippi Uniform Trust Code
Article 12 - Trust Advisors and Trust Protectors
§ 91-8-1201. Powers of trust advisors and trust protectors
§ 91-8-1202. Trust advisors and trust protectors as fiduciaries
§ 91-8-1203. Trust advisor and trust protector subject to court jurisdiction
§ 91-8-1204. No duty to review actions of trustee, trust advisor, or trust protector
§ 91-8-1206. Limitation of action against trust advisor or trust protector