Indiana Statutes
§ 30-4-10-48 — Modification of the first-trust instrument
An authorized fiduciary must 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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Indiana § 30-4-10-48 (Modification of the first-trust instrument) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
As added by P.L.161-2022, SEC.3.
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Definitions