3352w

A trustee is entitled to indemnity from the trust property for expenses properly incurred in the administration of the trust. The trustee may also be indemnified as provided by the trustor.If the trust property is not sufficient to indemnify a trustee for expenses properly incurred by him in the administration of a trust, a beneficiary shall not be personally liable to the trustee, unless otherwise agreed between them.The beneficiary shall be personally liable to the trustee for expenses duly incurred during the administration of the trust if, being entitled to indemnity, the trustee transfers trust property to the trust without deducting indemnifiable expenses, but only up to the amount of the value of the transferred assets, unless the trustee had expressed his intent to waive indemnity. History —Aug. 31, 2012, No. 219, § 30.