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

Indiana § 30-4-10-39

• Jurisdiction: Indiana
• Art. 4: TRUST CODE
• Ch. 10: Uniform Trust Decanting Act

Text

(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.

Legislative History

As added by P.L.161-2022, SEC.3.