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Current as of January 02, 2024 | Updated by Findlaw Staff
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;
(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.
Cite this article: FindLaw.com - Indiana Code Title 30. Trusts and Fiduciaries § 30-4-10-39 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-30-trusts-and-fiduciaries/in-code-sect-30-4-10-39/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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