Nebraska Statutes 30-4509. Court involvement
(a) On application of an authorized fiduciary, a person entitled to notice under subsection (c) of section 30-4507, a beneficiary, or with respect to a charitable interest the Attorney General or other person that has standing to enforce the charitable interest, the court may:
Terms Used In Nebraska Statutes 30-4509
- Attorney: shall mean attorney at law. See Nebraska Statutes 49-801
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Fiduciary: A trustee, executor, or administrator.
- Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
- Trustee: A person or institution holding and administering property in trust.
(1) provide instructions to the authorized fiduciary regarding whether a proposed exercise of the decanting power is permitted under the Uniform Trust Decanting Act and consistent with the fiduciary duties of the authorized fiduciary;
(2) appoint a special fiduciary and authorize the special fiduciary to determine whether the decanting power should be exercised under the act 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 30-4522, the proposed or attempted exercise does not or did not comply with the act; or
(B) the proposed or attempted exercise would be or was an abuse of the fiduciary’s discretion or a breach of fiduciary duty;
(5) determine the extent to which section 30-4522 applies to a prior exercise of the decanting power;
(6) provide instructions to the trustee regarding the application of section 30-4522 to a prior exercise of the decanting power; or
(7) order other relief to carry out the purposes of the act.
(b) On application of an authorized fiduciary, the court may approve:
(1) an increase in the fiduciary’s compensation under section 30-4516 ; or
(2) a modification under section 30-4518 of a provision granting a person the right to remove or replace the fiduciary.