Sec. 39. (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;

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Terms Used In Indiana Code 30-4-10-39

  • Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
  • authorized fiduciary: means :

    Indiana Code 30-4-10-4

  • charitable interest: means an interest in a trust that:

    Indiana Code 30-4-10-7

  • court: has the meaning set forth in IC 30-4-1-2(6). See Indiana Code 30-4-10-10
  • decanting power: means the power of an authorized fiduciary under this chapter to:

    Indiana Code 30-4-10-12

  • Fiduciary: A trustee, executor, or administrator.
  • person: means :

    Indiana Code 30-4-10-19

(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.

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

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