Maine § 18-B §1204 Fiduciary duty

Maine Statutes

§ 18-B §1204 — Fiduciary duty

Maine § 18-B §1204

Title 18-BTRUSTS

Part 1MAINE UNIFORM TRUST CODE

Ch. 12MAINE UNIFORM TRUST DECANTING ACT

This text of Maine § 18-B §1204 (Fiduciary duty) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 18-B, § 18-B §1204 (2026).

Text

1.Act in accordance with fiduciary duty. In exercising the decanting power, an authorized fiduciary shall act in accordance with its fiduciary duties, including the duty to act in accordance with the purposes of the first trust.

2.No duty to exercise power; inform beneficiaries. This Act does not create or imply a duty to exercise the decanting power or to inform beneficiaries about the applicability of this Act.

3.Deemed to include decanting power. Except as otherwise provided in a first-trust instrument, for purposes of this Act and section 801 and section 802, subsection 1, the terms of the first trust are deemed to include the decanting power.

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1.
Act in accordance with fiduciary duty.
In exercising the decanting power, an authorized fiduciary shall act in accordance with its fiduciary duties, including the duty to act in accordance with the purposes of the first trust.
2.
No duty to exercise power; inform beneficiaries.
This Act does not create or imply a duty to exercise the decanting power or to inform beneficiaries about the applicability of this Act.
3.
Deemed to include decanting power.
Except as otherwise provided in a first-trust instrument, for purposes of this Act and section 801 and section 802, subsection 1, the terms of the first trust are deemed to include the decanting power.