| Commentary

167 Liability of trustees

| Commentary

167 Liability of trustees

It is an encouragement to prospective trustees to include in a charitable will trust a specific indemnity for trustees in the event of loss to the trust which is not caused through the trustees’ wilful default or failure to obtain and consider professional advice1. The courts have upheld as valid a clause which excluded the liability of trustees for all losses not caused by actual fraud on the part of the trustee affected2. The Law Commission considered the validity of such clauses exempting a trustee from liability and concluded that a non-statutory

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial