DE SB239

Defines "willful misconduct" for fiduciary liability purposes as intentional wrongdoing, excluding mere negligence, gross negligence, or recklessness

Establishes that property contributed to a revocable trust by a husband and wife that was previously held as tenants by the entireties retains that character while both spouses are living, with creditors limited to ordering transfer back to the spouses as tenants by the entireties

Creates a fiduciary duty for trustees to verify that substituted property is of equivalent value when a trustor exercises a power to substitute property in a grantor trust

Clarifies that co-fiduciaries (trustees, advisers, protectors) must keep each other reasonably informed about trust administration upon request, though receiving information does not create a duty to monitor or advise the providing fiduciary

Expands trustee powers regarding loans and guarantees from trust property, trust severance, and allocations between principal and income, while updating cross-references and conforming provisions throughout Title 12