Compensation Limitation of Liability of Trustees Clause Samples

The "Compensation, Limitation of Liability of Trustees" clause defines the rules regarding how trustees are paid for their services and the extent to which they are personally responsible for actions taken in their role. Typically, this clause outlines the types of fees or reimbursements trustees are entitled to receive from the trust assets, and it may specify that trustees are not personally liable for losses to the trust except in cases of gross negligence or willful misconduct. Its core function is to ensure trustees are fairly compensated while protecting them from undue personal liability, thereby encouraging qualified individuals to serve as trustees without fear of excessive personal risk.