The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 14A V.S.A. § 1002)
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§ 1002. Damages for breach of trust
(a) A trustee who commits a breach of trust is liable to the beneficiaries affected for
the greater of:
(1) the amount required to restore the value of the trust property and trust distributions
to what they would have been had the breach not occurred; or
(2) the profit the trustee made by reason of the breach.
(b) Except as otherwise provided in this subsection, if more than one trustee is liable
to the beneficiaries for a breach of trust, a trustee is entitled to contribution
from the other trustee or trustees. A trustee is not entitled to contribution if the
trustee was substantially more at fault than another trustee or if the trustee committed
the breach of trust in bad faith or with reckless indifference to the purposes of
the trust or the interests of the beneficiaries. A trustee who received a benefit
from the breach of trust is not entitled to contribution from another trustee to the
extent of the benefit received. (Added 2009, No. 20, § 1.)