Indiana § 30-4-10-35 Authorized fiduciary; notice of intent to exercise decanting power

Indiana Statutes

§ 30-4-10-35 — Authorized fiduciary; notice of intent to exercise decanting power

Indiana § 30-4-10-35

Art. 4TRUST CODE

Ch. 10Uniform Trust Decanting Act

This text of Indiana § 30-4-10-35 (Authorized fiduciary; notice of intent to exercise decanting power) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 30-4-10-35 (2026).

Text

(a)Except as provided in subsection (c), an authorized fiduciary shall give notice in a record of the intended exercise of the decanting power not later than sixty (60) days before the exercise of the decanting power to:

(1)each settlor of the first trust, if living or then in existence;

(2)each qualified beneficiary of the first trust, including the designated representative, if any, or other representative under IC 30-4-6-10.5 of a qualified beneficiary who:

(A)is a minor or an incapacitated person;

(B)is unborn;

(C)is unknown; or

(D)cannot be located after a reasonably diligent search;

(3)each holder of a presently exercisable power of appointment in the first trust;

(4)each person that currently has the right to remove or replace the authorized fiduciary;

(5)each fiduciary of

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(a) Except as provided in subsection (c), an
authorized fiduciary shall give notice in a record of the intended
exercise of the decanting power not later than sixty (60) days before the
exercise of the decanting power to:
(1) each settlor of the first trust, if living or then in existence;
(2) each qualified beneficiary of the first trust, including the
designated representative, if any, or other representative under IC 30-4-6-10.5 of a qualified beneficiary who:
(A) is a minor or an incapacitated person;
(B) is unborn;
(C) is unknown; or
(D) cannot be located after a reasonably diligent search;
(3) each holder of a presently exercisable power of appointment
in the first trust;
(4) each person that currently has the right to remove or replace
the authorized fiduciary;
(5) each fiduciary of the first trust;
(6) each fiduciary of the second trust; and
(7) the attorney general, if section 44(c) of this chapter applies.
(b) A notice period under subsection (a) begins on the day that the
notice is given and ends fifty-nine (59) days later.
(c) An authorized fiduciary is not required to give notice under
subsection (a) to a person that:
(1) is not known to the fiduciary;
(2) is known to the fiduciary but cannot be located by the
fiduciary after a reasonably diligent search; or
(3) has no representative under IC 30-4-6-10.5.
(d) The decanting power may be exercised before expiration of the
notice period under subsection (a) if all persons entitled to receive
notice waive the notice period in a signed record.