30-4-10-39. Petition to Determine the Permissibility of the Decanting Power; Judicial Modification of Fiduciary Compensation
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 […]
30-4-10-40. Exercise of Decanting Power; Written Record
Sec. 40. An exercise of the decanting power must be made in a record signed by an authorized fiduciary. The signed record must: (1) directly or indirectly reference the notice required by section 35 of this chapter; (2) identify the first trust and the second trust; (3) identify and state the property of the first […]
30-4-10-41. Exercise of Decanting Power and Distributive Discretion; Limitations; General or Nongeneral Appointment
Sec. 41. (a) As used in this section, “noncontingent right” means a right that is not subject to the: (1) exercise of discretion; or (2) occurrence of a specified event that is not certain to occur. The term does not include a right held by a beneficiary if any person has discretion to distribute property […]
30-4-10-10. “Court”
Sec. 10. As used in this chapter, “court” has the meaning set forth in IC 30-4-1-2(6). As added by P.L.161-2022, SEC.3.
30-4-10-26. “Second Trust”
Sec. 26. As used in this chapter, “second trust” means: (1) a first trust after modification under this chapter; or (2) a trust to which a distribution of property from a first trust is or may be made under this chapter. As added by P.L.161-2022, SEC.3.
30-4-10-11. “Current Beneficiary”
Sec. 11. As used in this chapter, “current beneficiary” means a beneficiary who, on the date that the beneficiary’s qualification is determined, is a distributee or permissible distributee of trust income or principal. The term includes the holder of a presently exercisable general power of appointment but does not include a person that is a […]
30-4-10-27. “Second-Trust Instrument”
Sec. 27. As used in this chapter, “second-trust instrument” means the trust instrument for a second trust. As added by P.L.161-2022, SEC.3.
30-4-10-12. “Decanting Power”
Sec. 12. As used in this chapter, “decanting power” means the power of an authorized fiduciary under this chapter to: (1) distribute property of a first trust to one (1) or more second trusts; or (2) to modify the terms of the first trust. As added by P.L.161-2022, SEC.3.
30-4-10-13. “Designated Representative”
Sec. 13. As used in this chapter, “designated representative” has the meaning set forth in IC 30-4-1-2(8). As added by P.L.161-2022, SEC.3.
30-4-10-14. “Expanded Distributive Discretion”
Sec. 14. As used in this chapter, “expanded distributive discretion” means a discretionary power of distribution that is not limited to an ascertainable standard or a reasonably definite standard. As added by P.L.161-2022, SEC.3.