Alabama § 19-3D-18 Removal or Replacement of Authorized Fiduciary

Alabama Statutes

§ 19-3D-18 — Removal or Replacement of Authorized Fiduciary

Alabama·Title 19 Fiduciaries and Trusts·Ch. 3D Alabama Uniform Trust Decanting Act

An authorized fiduciary may not exercise the decanting power to modify a provision in a first-trust instrument granting another person power to remove or replace the fiduciary unless:

(1)the person holding the power consents to the modification in a signed record and the modification applies only to the person;

(2)the person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed record and the modification grants a substantially similar power to another person; or

(3)the court approves the modification and the modification grants a substantially similar power to another person.

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An authorized fiduciary may not exercise the decanting power to modify a provision in a first-trust instrument granting another person power to remove or replace the fiduciary unless:
(1) the person holding the power consents to the modification in a signed record and the modification applies only to the person;
(2) the person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed record and the modification grants a substantially similar power to another person; or
(3) the court approves the modification and the modification grants a substantially similar power to another person.

Alabama § 19-3D-18 (Removal or Replacement of Authorized Fiduciary) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.