(a) A trustee may delegate investment and management functions that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caution in:
(1) Selecting an agent;
(2) Establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and
(3) Periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the terms of the delegation.
(b) In performing a delegated function, an agent owes a duty to the trust to exercise reasonable care to comply with the terms of the delegation.
(c) A trustee who complies with the requirements of subsection (a) of this section is not liable to the beneficiaries or to the trust for the decisions or actions of the agent to whom the function was delegated.
(d) By accepting the delegation of a trust function from the trustee of a trust that is subject to the law of this state, an agent submits to the jurisdiction of the courts of this state.
Notes of Decisions
In re Masek Child.'s Trust (Neb. Ct. App. 2019).
· cites it 4× “Under Neb. Rev. Stat. § 30-3888 (c) (Reissue 2016), a trustee who delegates management functions to an agent will not be liable for the actions of the agent if the trustee complies with § 30-3888(a), which reads, in part: The trustee shall exercise reasonable care, skill, and…”
— Neb. Rev. Stat. § 30-3888(a) — 1 case
In re Masek Child.'s Trust (Neb. Ct. App. 2019).
“Under Neb. Rev. Stat. § 30-3888 (c) (Reissue 2016), a trustee who delegates management functions to an agent will not be liable for the actions of the agent if the trustee complies with § 30-3888(a), which reads, in part: The trustee shall exercise reasonable care, skill, and…”
— Neb. Rev. Stat. § 30-3888(b) — 1 case
In re Masek Child.'s Trust (Neb. Ct. App. 2019).
“Under Neb. Rev. Stat. § 30-3888 (c) (Reissue 2016), a trustee who delegates management functions to an agent will not be liable for the actions of the agent if the trustee complies with § 30-3888(a), which reads, in part: The trustee shall exercise reasonable care, skill, and…”
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