CLE On The Use and Abuse of Exculpatory Clauses
The American Bar Association is presenting a CLE entitled, The Use and Abuse of Exculpatory Clauses, Tuesday October 20, 2015, 12:00-1:30pm Central, online. Here are some details about the event:
Can fiduciaries rely on exculpatory clauses in wills and trusts? Exculpatory clauses can take several forms, from clauses which expressly exclude obligations which would otherwise apply to fiduciaries, to clauses which purport to absolve fiduciaries from losses arising from their actions. Exculpatory clauses are designed to avoid the duties that would otherwise apply to a fiduciary’s dealings with trust property.
This program will consider:
- The duties which are most often the subject of exculpatory clauses;
- The effectiveness of these clauses;
- The extent to which courts allow fiduciaries to rely on these clauses;
- The exercise of discretion by trustees of trusts that hold corporate assets; and
- The availability of exculpatory clauses to trustees who simultaneously act as corporate officers and directors.
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