§ 30-4-10-46 — Compensation of authorized fiduciary

Indiana § 30-4-10-46

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

Text

(a) If a first-trust instrument specifies an
authorized fiduciary's compensation, the fiduciary may not exercise the
decanting power to increase the fiduciary's compensation above the
specified compensation unless:
(1) all qualified beneficiaries of the second trust consent to the
increase in a signed record; or
(2) the increase is approved by the court.
(b) If a first-trust instrument does not specify an authorized
fiduciary's compensation, the fiduciary may not exercise the decanting
power to increase the fiduciary's compensation above the compensation
permitted by this article unless:
(1) all qualified beneficiaries of the second trust consent to the
increase in a signed record; or
(2) the increase is approved by the court.
(c) A change in an authorized fiduciary's compensation that is
incidental to other changes made by the exercise of the decanting
power is not an increase in the fiduciary's compensation for purposes
of subsections (a) and (b).

Legislative History

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