West Virginia Code 44D-8B-9 – Court involvement
(a) On application of an authorized fiduciary, a person entitled to notice under §44D-8B-7(c) of this code, a beneficiary, or with respect to a charitable interest any other person that has standing to enforce the charitable interest, the court may:
Terms Used In West Virginia Code 44D-8B-9
- 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.
- 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 this article 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 this article 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 § 44D-8B-22 of this code, the proposed or attempted exercise does not, or did not, comply with this article; 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 § 44D-8B-22 of this code applies to a prior exercise of the decanting power;
(6) Provide instructions to the trustee regarding the application of § 44D-8B-22 of this code to a prior exercise of the decanting power; or
(7) Order other relief to carry out the purposes of this article.
(b) On application of an authorized fiduciary, the court may approve:
(1) An increase in the fiduciary’s compensation under § 44D-8B-16 of this code; or
(2) A modification under § 44D-8B-18 of this code of a provision granting a person the right to remove or replace the fiduciary.