§ 30-4-3-26 — Power to direct a deviation from the terms of the trust

(Power to Direct a Deviation from the Terms
of the Trust)
(a) Upon petition by the trustee or a beneficiary, the court shall
direct or permit the trustee to deviate from a term of the trust if, owing
to circumstances not known to the settlor and not anticipated by him,
compliance would defeat or substantially impair the accomplishment
of the purposes of the trust. In that case, if necessary to carry out the
purposes of the trust, the court may direct or permit the trustee to do
acts which are not authorized or are forbidden by the terms of the trust,
or may prohibit the trustee from performing acts required by the terms
of the trust.
(b) The trustee may deviate from the terms of the trust as provided
in subsection (a) of this section, without first obtaining the permission
of the court, if there is an emergency or if he reasonably believes that
there is an emergency, and before deviating he has no opportunity to
apply to the court for permission to deviate.
(c) The trustee is liable for any loss or damage which results if he
fails to apply to the court for permission to deviate from the terms of
the trust, when he knows or should know that, owing to circumstances
not known to the settlor and not anticipated by him, compliance will
defeat or substantially impair the accomplishment of the purposes of
the trust.
Formerly: Acts 1971, P.L.416, SEC.4.