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Indiana Code Title 30. Trusts and Fiduciaries § 30-4-10-48

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 48. An authorized fiduciary must not exercise the decanting power to modify a provision in a first-trust instrument granting another person power to remove or replace the fiduciary unless:

(1) the person holding the power consents to the modification in a signed record and the modification applies only to the person;

(2) the person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed record and the modification grants a substantially similar power to another person;  or

(3) the court approves the modification and the modification grants a substantially similar power to another person.

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Cite this article: FindLaw.com - Indiana Code Title 30. Trusts and Fiduciaries § 30-4-10-48 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-30-trusts-and-fiduciaries/in-code-sect-30-4-10-48/

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