§1003.__Damages in absence of breach

1.__Accountable for profit.__A trustee is accountable to an affected beneficiary for any profit made by the trustee arising from the administration of the trust, even absent a breach of trust.__Nothing in this section limits a trustee's right to reasonable compensation under section 708.

2.__Not accountable for loss, depreciation or no profit.__ Absent a breach of trust, a trustee is not liable to a beneficiary for a loss or depreciation in the value of trust property or for not having made a profit.

§1004.__Attorney's fees and costs

In a judicial proceeding involving the administration of a trust, the court, as justice and equity may require, may award costs and expenses, including reasonable attorney's fees, to any party, to be paid by another party or from the trust that is the subject of the controversy.

§1005.__Limitation of action against trustee

1.__Report; one-year limitation.__A beneficiary may not commence a proceeding against a trustee for breach of trust more than one year after the date the beneficiary or a representative of the beneficiary was sent a report that adequately disclosed the existence of a potential claim for breach of trust and informed the beneficiary of the time allowed for commencing a proceeding.

2.__Disclosure of potential claim.__A report adequately discloses the existence of a potential claim for breach of trust if it provides sufficient information so that the beneficiary or representative knows of the potential claim or should have inquired into its existence.

3.__Six years.__If subsection 1 does not apply, a judicial proceeding by a beneficiary against a trustee for breach of trust must be commenced within 6 years after the first to occur of:

A.__The removal, resignation or death of the trustee;

B.__The termination of the beneficiary's interest in the trust; and

C.__The termination of the trust.