Sec. 33. (a) Except as provided in this chapter, an authorized
fiduciary may exercise the
decanting power without the consent of any
person and without
court approval.
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Terms Used In Indiana Code 30-4-10-33
- authorized fiduciary: means :
Indiana Code 30-4-10-4
- 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.
- first trust: means a trust over which an authorized fiduciary may exercise the decanting power. See Indiana Code 30-4-10-15
- first-trust instrument: means the trust instrument for a first trust. See Indiana Code 30-4-10-16
- person: means :
Indiana Code 30-4-10-19
(c) This chapter does not create or imply a duty to exercise the decanting power or to inform beneficiaries about the applicability of this chapter.
(d) Except as provided in a first-trust instrument, the terms of the first trust are deemed to include the decanting power.
As added by P.L.161-2022, SEC.3.
