Indiana § 30-4-10-39 Petition to determine the permissibility of the decanting power; judicial
modification of fiduciary compensation

Indiana Statutes

§ 30-4-10-39 — Petition to determine the permissibility of the decanting power; judicial modification of fiduciary compensation

Indiana·Art. 4 TRUST CODE·Ch. 10 Uniform Trust Decanting Act

(a)Upon a petition by an authorized fiduciary, a beneficiary, or a person entitled to notice under section 35 of this chapter or with respect to a charitable interest by the attorney general or other person that has standing to enforce the charitable interest, the court may:

(1)provide instructions to the authorized fiduciary about whether a proposed exercise of the decanting power is permitted under this chapter and consistent with the fiduciary duties of the authorized fiduciary;

(2)appoint a special fiduciary and authorize the special fiduciary to determine whether the exercise of the decanting power is proper under this chapter and to exercise the decanting power;

(3)approve an exercise of the decanting power;

(4)determine that a proposed or attempted exercise of the decanting pow

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(a) Upon a petition by an authorized
fiduciary, a beneficiary, or a person entitled to notice under section 35
of this chapter or with respect to a charitable interest by the attorney
general or other person that has standing to enforce the charitable
interest, the court may:
(1) provide instructions to the authorized fiduciary about whether
a proposed exercise of the decanting power is permitted under this
chapter and consistent with the fiduciary duties of the authorized
fiduciary;
(2) appoint a special fiduciary and authorize the special fiduciary
to determine whether the exercise of the decanting power is
proper under this chapter and to exercise the decanting power;
(3) approve an exercise of the decanting power;
(4) determine that a proposed or attempted exercise of the
decanting power is ineffective because:
(A) after applying section 52 of this chapter, the proposed or
attempted exercise does not comply with this chapter; or
(B) the proposed or attempted exercise is an abuse of the
fiduciary's discretion or a breach of a fiduciary duty;
(5) determine the extent section 52 of this chapter applies to a
prior exercise of the decanting power;
(6) provide instructions to the trustee regarding the application of
section 52 of this chapter to a prior exercise of the decanting
power; or
(7) order relief to carry out the purposes of this chapter.
(b) Upon a petition by an authorized fiduciary, the court may
approve:
(1) an increase in the fiduciary's compensation under section 46
of this chapter; or
(2) a modification under section 48 of this chapter of a provision
granting a person the right to remove or replace the fiduciary.

Indiana § 30-4-10-39 (Petition to determine the permissibility of the decanting power; judicial modification of fiduciary compensation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.