CODE OF VIRGINIA

EXCULPATION OF TRUSTEE (§ 64.2-799)

A. A term of a trust relieving a trustee of liability for breach of trust is
unenforceable to the extent that it:

   1.  Relieves the trustee of liability for breach of trust committed in bad
   faith or with reckless indifference to the purposes of the trust or the
   interests of the beneficiaries; or

   2.  Was inserted as the result of an abuse by the trustee of a fiduciary or
   confidential relationship to the settlor.

B. An exculpatory term drafted or caused to be drafted by the trustee is invalid
as an abuse of a fiduciary or confidential relationship unless the trustee
proves that the existence and contents of the exculpatory term were adequately
communicated to the settlor.

HISTORY: 2005, c. 935, § 55-550.08; 2012, c. 614.