Current through L. 2024, c. 185.
Section 1008 - Exculpation of trustee(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 exculpatory term is fair under the circumstances and that its existence and contents were adequately communicated to the settlor.