reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 9. Uniform Directed Trust Act › 30-4-9-10. Providing Information to a Trust Director; Liability; Breach of Trust

Sec. 10. (a) Subject to section 11 of this chapter, a trustee shall provide information to a trust director to the extent the information is reasonably related both to:
(1) the powers or duties of the trustee; and
(2) the powers or duties of the director.
(b) Subject to section 11 of this chapter, a trust director shall provide information to a trustee or another trust director to the extent the information is reasonably related to:
(1) the powers or duties of the director; and
(2) the powers or duties of the trustee or other director.
(c) A trustee that acts in reliance on information provided by a trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless by so acting, the trustee engages in willful misconduct.
(d) A trust director that acts in reliance on information provided by a trustee or another trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless by so acting, the trust director engages in willful misconduct.
As added by P.L.221-2019, SEC.10.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 9. Uniform Directed Trust Act › 30-4-9-11. Duties of Trust Director and Trustee Under the Terms of the Trust

Sec. 11. (a) Unless the terms of a trust provide otherwise:
(1) a trustee does not have a duty to:
(A) monitor a trust director; or
(B) inform or give advice to a settlor, beneficiary, trustee, or trust director concerning an instance in which the trustee might have acted differently than the director; and
(2) by taking an action described in subdivision (1), a trustee does not assume the duty excluded by subdivision (1).
(b) Unless the terms of a trust provide otherwise:
(1) a trust director does not have a duty to:
(A) monitor a trustee or another trust director; or
(B) inform or give advice to a settlor, beneficiary, trustee, or another trust director concerning an instance in which the director might have acted differently than a trustee or another trust director; and
(2) by taking an action described in subdivision (1), a trust director does not assume the duty excluded by subdivision (1).
As added by P.L.221-2019, SEC.10.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 9. Uniform Directed Trust Act › 30-4-9-12. Relief of Cotrustee From Duties and Liabilities

Sec. 12. The terms of a trust may relieve a cotrustee from duty and liability with respect to another cotrustee's exercise or nonexercise of a power of the other cotrustee to the same extent that in a directed trust a directed trustee is relieved from duty and liability with respect to a trust director's power of direction under sections 9 through 11 of this chapter.
As added by P.L.221-2019, SEC.10.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 9. Uniform Directed Trust Act › 30-4-9-13. Causes of Action; Statutes of Limitations

Sec. 13. (a) An action against a trust director for breach of trust must be commenced within the same limitation period as an action against a trustee under IC 30-4-6-12.
(b) A report or accounting has the same effect on the limitation period for an action against a trust director for breach of trust that the report or accounting would have under IC 30-4-6-12 in an action for breach of trust against a trustee who is in a like position and under similar circumstances.
As added by P.L.221-2019, SEC.10.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 9. Uniform Directed Trust Act › 30-4-9-14. Causes of Action; Defenses

Sec. 14. In an action against a trust director for breach of trust, the director may assert the same defenses a trustee in a like position and under similar circumstances could assert in an action for breach of trust against the trustee.
As added by P.L.221-2019, SEC.10.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 9. Uniform Directed Trust Act › 30-4-9-15. Causes of Action; Personal Jurisdiction

Sec. 15. (a) By accepting appointment as a trust director of a trust under this chapter, the director submits to personal jurisdiction of the courts of the state of Indiana regarding any matter related to a power or duty of the director.
(b) This section does not preclude other methods of obtaining jurisdiction over a trust director.
As added by P.L.221-2019, SEC.10.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 9. Uniform Directed Trust Act › 30-4-9-16. Applicable Rules

Sec. 16. Unless the terms of a trust provide otherwise, the rules applicable to a trustee apply to a trust director regarding the following matters:
(1) Acceptance (IC 30-4-2-2).
(2) Giving of bond to secure performance (IC 30-4-6-8).
(3) Reasonable compensation (IC 30-4-5-16).
(4) Resignation and removal (IC 30-4-3-29).
(5) Vacancy and appointment of successor (IC 30-4-3-33).
As added by P.L.221-2019, SEC.10.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 9. Uniform Directed Trust Act › 30-4-9-17. Uniformity of the Law

Sec. 17. In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among the states that enact it.
As added by P.L.221-2019, SEC.10.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-1. Application

Sec. 1. (a) This chapter applies to a trust created before, on, or after July 1, 2022, that:
(1) has its principal place of administration in this state, including a trust whose principal place of administration has been changed to this state; or
(2) provides by its trust instrument that it is governed by the law of this state or is governed by the law of this state for the purpose of:
(A) administration, including administration of a trust whose governing law for purposes of administration has been changed to the law of this state;
(B) construction of terms of the trust; or
(C) determining the meaning or effect of terms of the trust.
(b) Except as provided in subsections (c) and (d), this chapter applies to an express trust that is irrevocable or revocable by the settlor only with the consent of the trustee or a person holding an adverse interest.
(c) This chapter does not:
(1) apply to a trust held solely for charitable purposes;
(2) limit the power of a trustee, powerholder, or other person to distribute or appoint property in further trust;
(3) limit the power to modify a trust under the trust instrument, law of this state other than this chapter, common law, a court order, or a nonjudicial settlement agreement; or
(4) affect the ability of a settlor to provide in a trust instrument for the distribution of the trust property or appointment in further trust of the trust property or for modification of the trust instrument. Such provisions in the trust instrument shall control over any applicable provision of this chapter.
(d) Subject to section 45 of this chapter, a trust instrument may restrict or prohibit exercise of the decanting power.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-2. "Appointive Property"

Sec. 2. As used in this chapter, "appointive property" means the property or property interest subject to a power of appointment.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-3. "Ascertainable Standard"

Sec. 3. As used in this chapter, "ascertainable standard" means a standard relating to an individual's health, education, support, or maintenance as defined by 26 U.S.C. 2041(b)(1)(A) or 26 U.S.C. 2514(c)(1) and applicable regulations.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-4. "Authorized Fiduciary"

Sec. 4. As used in this chapter, "authorized fiduciary" means:
(1) a trustee, trust director, or other fiduciary, other than a settlor, that has discretion to distribute or direct a trustee to distribute part or all of the principal of the first trust to one (1) or more current beneficiaries;
(2) a special fiduciary appointed under section 39 of this chapter; or
(3) a special-needs fiduciary under section 43 of this chapter.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-5. "Beneficiary"

Sec. 5. As used in this chapter, "beneficiary" means a person that:
(1) has a present or future, vested or contingent, beneficial interest in a trust;
(2) holds a power of appointment over trust property; or
(3) is an identified charitable organization that may receive distributions under the terms of the trust.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-6. "Beneficiary With a Disability"

Sec. 6. As used in this chapter, "beneficiary with a disability" means a beneficiary who is determined, in the exercise of an authorized fiduciary's discretion, to have one (1) of the following conditions:
(1) Dementia, memory loss, Parkinson's disease, or other progressive condition that, currently or in the future, may impair the ability of the beneficiary to provide self care or manage the beneficiary's assets.
(2) A physical or mental condition or infirmity due to age, cognitive impairment, addiction, or disease that impairs the beneficiary's ability to provide self care or manage the beneficiary's assets.
(3) The susceptibility of the beneficiary, at any age, to financial exploitation, as defined in IC 23-19-4.1, IC 30-5-5-6.5, or FINRA Rule 2165 approved by the United States Securities and Exchange Commission.
(4) A condition requiring essential medical treatment or prescription medication that the beneficiary cannot reasonably provide for from the beneficiary's resources outside the trust assets.
(5) A condition related directly or indirectly to the disability of a beneficiary described in subdivisions (1) through (4) with respect to which the settlor of the trust has expressed the settlor's intent.
As added by P.L.161-2022, SEC.3. Amended by P.L.11-2023, SEC.94.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-7. "Charitable Interest"

Sec. 7. As used in this chapter, "charitable interest" means an interest in a trust that:
(1) is held by an identified charitable organization and makes the organization a qualified beneficiary;
(2) benefits only a charitable organization and, if the interest were held by an identified charitable organization, would make the organization a qualified beneficiary; or
(3) is held solely for a charitable purpose and, if the interest were held by an identified charitable organization, would make the organization a qualified beneficiary.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-8. "Charitable Organization"

Sec. 8. As used in this chapter, "charitable organization" means:
(1) a person, other than an individual, organized and operated exclusively for a charitable purpose; or
(2) a government or governmental subdivision, agency, or instrumentality to the extent it holds funds exclusively for a charitable purpose.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-9. "Charitable Purpose"

Sec. 9. As used in this chapter, "charitable purpose" means the relief of poverty, the advancement of education or religion, the promotion of health, a municipal or other governmental purpose, or a purpose that is beneficial to the community.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 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.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 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 beneficiary only because the person holds any other power of appointment.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 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.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 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.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 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.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-15. "First Trust"

Sec. 15. As used in this chapter, "first trust" means a trust over which an authorized fiduciary may exercise the decanting power.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-17. "General Power of Appointment"

Sec. 17. As used in this chapter, "general power of appointment" means a power of appointment exercisable in favor of:
(1) a powerholder;
(2) a powerholder's estate;
(3) a creditor of the powerholder; or
(4) a creditor of the powerholder's estate.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-19. "Person"

Sec. 19. As used in this chapter, "person" means:
(1) an individual;
(2) a corporation;
(3) a business trust;
(4) an estate;
(5) a trust;
(6) a partnership;
(7) a limited liability company;
(8) an association;
(9) a joint venture;
(10) a government;
(11) a governmental subdivision;
(12) an agency or instrumentality;
(13) a public corporation; or
(14) any other legal or commercial entity.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-20. "Power of Appointment"

Sec. 20. As used in this chapter, "power of appointment" means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. The term does not include a power of attorney.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-21. "Powerholder"

Sec. 21. As used in this chapter, "powerholder" means a person in which a donor creates a power of appointment.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-22. "Presently Exercisable Power of Appointment"

Sec. 22. (a) As used in this chapter, "presently exercisable power of appointment" means a power of appointment exercisable by the powerholder at the relevant time.
(b) The term includes a power of appointment exercisable only after the occurrence of a specified event, the satisfaction of an ascertainable standard, or the passage of a specified time.
(c) The term does not include a power exercisable only at the powerholder's death.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-23. "Qualified Beneficiary"

Sec. 23. As used in this chapter, "qualified beneficiary" has the meaning set forth in IC 30-4-1-2(19).
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-24. "Reasonably Definite Standard"

Sec. 24. As used in this chapter, "reasonably definite standard" means a clearly measurable standard under which a holder of a power of distribution is legally accountable within the meaning of 26 U.S.C. 674(b)(5)(A) and applicable regulations.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-25. "Record"

Sec. 25. As used in this chapter, "record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 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.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-28. "Settlor"

Sec. 28. (a) As used in this chapter, except as provided in section 55 of this chapter, "settlor" has the meaning set forth in IC 30-4-1-2(21).
(b) If more than one (1) person creates or contributes property to a trust, each person is a settlor of the portion of the trust property attributable to the person's contribution except to the extent another person has power to revoke or withdraw that portion.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-29. "Sign"

Sec. 29. As used in this chapter, "sign" means with present intent to authenticate or adopt a record to:
(1) execute or adopt a tangible symbol; or
(2) attach to or logically associate with the record of an electronic symbol, sound, or process.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-30. "State"

Sec. 30. As used in this chapter, "state" means:
(1) a state of the United States;
(2) the District of Columbia;
(3) Puerto Rico;
(4) the United States Virgin Islands; or
(5) a territory or insular possession subject to the jurisdiction of the United States.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-31. "Terms of the Trust"

Sec. 31. As used in this chapter, "terms of the trust" has the meaning set forth in IC 30-4-1-2(22).
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-32. "Trust Instrument"

Sec. 32. As used in this chapter, "trust instrument" has the meaning set forth in IC 30-4-1-2(25). The term includes a written document executed by the settlor to create a trust or by a person to create a second trust that contains some or all of the terms of the trust, including any amendments.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-33. Fiduciary Duty

Sec. 33. (a) Except as provided in this chapter, an authorized fiduciary may exercise the decanting power without the consent of any person and without court approval.
(b) An authorized fiduciary shall act in accordance with its fiduciary duties, including the duty to act in accordance with the purposes of the first trust in exercising the decanting power.
(c) This chapter does not create or imply a duty to exercise the decanting power or to inform beneficiaries about the applicability of this chapter.
(d) Except as provided in a first-trust instrument, the terms of the first trust are deemed to include the decanting power.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-34. Liability for an Action or Failure to Act by a Trustee or Person

Sec. 34. A trustee or person that reasonably relies on:
(1) the validity of a distribution of the property of a trust to another trust; or
(2) a modification of a trust under this chapter, law of this state other than this article, or the law of another jurisdiction;
is not liable to any person for any action or failure to act as a result of the reliance.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-35. Authorized Fiduciary; Notice of Intent to Exercise Decanting Power

Sec. 35. (a) Except as provided in subsection (c), an authorized fiduciary shall give notice in a record of the intended exercise of the decanting power not later than sixty (60) days before the exercise of the decanting power to:
(1) each settlor of the first trust, if living or then in existence;
(2) each qualified beneficiary of the first trust, including the designated representative, if any, or other representative under IC 30-4-6-10.5 of a qualified beneficiary who:
(A) is a minor or an incapacitated person;
(B) is unborn;
(C) is unknown; or
(D) cannot be located after a reasonably diligent search;
(3) each holder of a presently exercisable power of appointment in the first trust;
(4) each person that currently has the right to remove or replace the authorized fiduciary;
(5) each fiduciary of the first trust;
(6) each fiduciary of the second trust; and
(7) the attorney general, if section 44(c) of this chapter applies.
(b) A notice period under subsection (a) begins on the day that the notice is given and ends fifty-nine (59) days later.
(c) An authorized fiduciary is not required to give notice under subsection (a) to a person that:
(1) is not known to the fiduciary;
(2) is known to the fiduciary but cannot be located by the fiduciary after a reasonably diligent search; or
(3) has no representative under IC 30-4-6-10.5.
(d) The decanting power may be exercised before expiration of the notice period under subsection (a) if all persons entitled to receive notice waive the notice period in a signed record.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-36. Notice Requirements

Sec. 36. A notice under section 35 of this chapter must:
(1) specify the manner in which the authorized fiduciary intends to exercise the decanting power;
(2) specify the proposed effective date for the exercise of the decanting power;
(3) include a copy of the first-trust instrument; and
(4) include a copy of the second-trust instrument.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-37. Effect of Notice on Exercise of Decanting Power

Sec. 37. (a) The receipt of notice, waiver of the notice period, or expiration of the notice period does not affect the right of a person to file a petition under section 39 of this chapter asserting that:
(1) an exercise of the decanting power:
(A) is ineffective because it did not comply with this chapter;
(B) was an abuse of discretion; or
(C) was a breach of a fiduciary duty; or
(2) section 52 of this chapter applies to the exercise of the decanting power.
(b) An exercise of the decanting power is not ineffective because of the failure to give notice to one (1) or more persons under section 35 of this chapter if the authorized fiduciary acted with reasonable care to comply with section 35 of this chapter.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-38. Notice to a Person Authorized to Represent Another Person

Sec. 38. (a) Notice to a person with authority to represent and bind another person under a first-trust instrument or this article has the same effect as notice given directly to the person represented.
(b) Consent of or waiver by a person with authority to represent and bind another person under a first-trust instrument or this article is binding on the person represented unless the person represented objects to the representation before the consent or waiver otherwise would become effective.
(c) A person with authority to represent and bind another person under a first-trust instrument or this article may file a petition under section 39 of this chapter on behalf of the person represented.
(d) A settlor may not represent or bind a beneficiary under this chapter.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 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 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.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 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 trust being distributed to each second trust; and
(4) identify the property that remains in the first trust.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-42. Limited Distributive Discretion

Sec. 42. (a) As used in this section, "limited distributive discretion" means a discretionary power of distribution that is limited to an ascertainable standard or a reasonably definite standard.
(b) An authorized fiduciary that has limited distributive discretion over the principal of the first trust for the benefit of one (1) or more current beneficiaries may exercise the decanting power over the principal of the first trust.
(c) Under this section and subject to section 44 of this chapter, a second trust may be created or administered under the law of any jurisdiction. A second trust must grant each beneficiary of the first trust beneficial interests that are substantially similar to the beneficial interests of the beneficiary in the first trust.
(d) A power to make a distribution under a second trust for the benefit of a beneficiary who is an individual is substantially similar to a power under the first trust to make a distribution directly to the beneficiary. A distribution is for the benefit of a beneficiary if:
(1) the distribution is applied for the benefit of the beneficiary;
(2) the beneficiary is under a legal disability or the trustee reasonably believes the beneficiary is incapacitated and the distribution is made as permitted under this article; or
(3) the distribution is made as permitted under the terms of the first-trust instrument and the second-trust instrument for the benefit of the beneficiary.
(e) If an authorized fiduciary has limited distributive discretion of the principal of a first trust, the fiduciary may only exercise the decanting power under this section over the principal that the authorized fiduciary has limited distributive discretion.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-44. Determinable Charitable Interest; Authority of the Attorney General

Sec. 44. (a) As used in this section, "determinable charitable interest" means a charitable interest that is a right to a mandatory distribution currently, periodically, on the occurrence of a specified event, or after the passage of a specified time and that is unconditional or will be held solely for charitable purposes.
(b) As used in this section, "unconditional" means not subject to the occurrence of a specified event that is not certain to occur, other than a requirement in a trust instrument that a charitable organization be in existence or qualify under a particular provision of the United States Internal Revenue Code of 1986, as amended and in effect on July 1, 2022, on the date of the distribution, if the charitable organization meets the requirement on the date of determination.
(c) If a first trust contains a determinable charitable interest, the attorney general has the rights of a qualified beneficiary and may represent and bind the charitable interest.
(d) If a first trust contains a charitable interest, the second trust must not:
(1) diminish the charitable interest;
(2) diminish the interest of an identified charitable organization that holds the charitable interest;
(3) alter any charitable purpose stated in the first-trust instrument; or
(4) alter any condition or restriction related to the charitable interest.
(e) If there are two (2) or more second trusts, the second trusts shall be treated as one (1) trust for purposes of determining whether the exercise of the decanting power diminishes the charitable interest or diminishes the interest of an identified charitable organization for purposes of subsection (d).
(f) If a first trust contains a determinable charitable interest, the second trust that includes a charitable interest pursuant to subsection (c) must be administered under the law of this state unless:
(1) the attorney general, after receiving notice under section 35 of this chapter, fails to object in a signed record delivered to the authorized fiduciary within the notice period;
(2) the attorney general consents in a signed record to the second trust being administered under the law of another jurisdiction; or
(3) the court approves the exercise of the decanting power.
(g) This chapter does not limit the powers and duties of the attorney general under the laws of this state other than this chapter.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-45. First-Trust Instrument Restriction on Decanting Power

Sec. 45. (a) An authorized fiduciary may not exercise the decanting power to the extent the first-trust instrument expressly prohibits exercise of:
(1) the decanting power; or
(2) a power granted by state law to the fiduciary to distribute part or all of the principal of the trust to another trust or to modify the trust.
(b) Exercise of the decanting power is subject to a restriction in the first-trust instrument that expressly applies to exercise of:
(1) the decanting power; or
(2) a power granted by state law to a fiduciary to distribute the principal of the trust to another trust or to modify the trust.
(c) The decanting power of an authorized fiduciary is not precluded by:
(1) a general prohibition of the amendment or revocation of a first trust;
(2) a spendthrift clause; or
(3) a clause restraining the voluntary or involuntary transfer of a beneficiary's interest.
(d) Subject to subsections (a) and (b), an authorized fiduciary may exercise the decanting power under this chapter even if the first-trust instrument permits the authorized fiduciary or another person to modify the first-trust instrument or to distribute the principal of the first trust to another trust.
(e) If a first-trust instrument contains an express prohibition described in subsection (a) or an express restriction described in subsection (b), the provision must be included in the second-trust instrument.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-46. Compensation of Authorized Fiduciary

Sec. 46. (a) If a first-trust instrument specifies an authorized fiduciary's compensation, the fiduciary may not exercise the decanting power to increase the fiduciary's compensation above the specified compensation unless:
(1) all qualified beneficiaries of the second trust consent to the increase in a signed record; or
(2) the increase is approved by the court.
(b) If a first-trust instrument does not specify an authorized fiduciary's compensation, the fiduciary may not exercise the decanting power to increase the fiduciary's compensation above the compensation permitted by this article unless:
(1) all qualified beneficiaries of the second trust consent to the increase in a signed record; or
(2) the increase is approved by the court.
(c) A change in an authorized fiduciary's compensation that is incidental to other changes made by the exercise of the decanting power is not an increase in the fiduciary's compensation for purposes of subsections (a) and (b).
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-47. Second-Trust Instrument; Liability of Authorized Fiduciary

Sec. 47. (a) Except as otherwise provided in this section, a second-trust instrument must not relieve an authorized fiduciary from liability for breach of trust to a greater extent than the first-trust instrument.
(b) A second trust instrument may provide for indemnification of an authorized fiduciary of the first trust or another person acting in a fiduciary capacity under the first trust for any liability or claim that would have been payable from the first trust if the decanting power had not been exercised.
(c) A second-trust instrument must not reduce fiduciary liability in the aggregate.
(d) Subject to subsection (c), a second-trust instrument may divide and reallocate fiduciary powers among fiduciaries, including one (1) or more trustees, distribution advisors, investment advisors, trust protectors, or other persons, and relieve a fiduciary from liability for an act or failure to act of another fiduciary as permitted by the laws of this state other than this chapter.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-48. Modification of the First-Trust Instrument

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.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-50. Duration of Second Trust; Property Attributable to Both First Trust and Second Trust

Sec. 50. (a) Subject to subsection (b), a second trust may have a duration that is the same as or different from the duration of the first trust.
(b) To the extent that property of a second trust is attributable to property of the first trust, the property of the second trust is subject to any rules governing maximum perpetuity, accumulation, or suspension of the power of alienation that apply to property of the first trust.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-51. Discretionary Distribution

Sec. 51. An authorized fiduciary may exercise the decanting power whether under the first trust's discretionary distribution standard the fiduciary would have made or could have been compelled to make a discretionary distribution of principal at the time of the exercise.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-52. Second-Trust Instrument; Noncompliant Provision; Corrective Action for Exercise of Decanting Power on a Noncompliant Provision

Sec. 52. (a) If exercise of the decanting power would be effective under this chapter except that the second-trust instrument in part does not comply with this chapter, the exercise of the power is effective and the following rules apply with respect to the principal of the second trust attributable to the exercise of the power:
(1) A provision in the second-trust instrument that is not permitted under this chapter is void to the extent necessary to comply with this chapter.
(2) A provision required by this chapter to be in the second-trust instrument that is not contained in the instrument is deemed to be included in the instrument to the extent necessary to comply with this chapter.
(b) If a trustee or other fiduciary of a second trust determines that subsection (a) applies to a prior exercise of the decanting power, the fiduciary shall take corrective action consistent with the fiduciary's duties.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-53. Animal Trust

Sec. 53. (a) As used in this section, "animal trust" means a trust or an interest in a trust created to provide for the care of one (1) or more animals.
(b) As used in this section, "protector" means a person appointed in an animal trust to enforce the trust on behalf of the animal or, if no such person is appointed in the trust, a person appointed by the court for that purpose.
(c) The decanting power may be exercised over an animal trust that has a protector to the extent the trust could be decanted under this chapter if each animal that benefits from the trust were an individual, if the protector consents in a signed record to the exercise of the power.
(d) A protector for an animal has the rights under this chapter of a qualified beneficiary.
(e) If a first trust is an animal trust, in an exercise of the decanting power, the second trust must provide that trust property may be applied only to its intended purpose for the period the first trust benefitted the animal.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-54. Reference to Trust Instrument or Terms of Trust Instrument

Sec. 54. A reference in this article to a trust instrument or terms of the trust includes a second-trust instrument and the terms of the second trust.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-55. Decanting Power of a Settlor of a First Trust; Settlor Intent of Second Trust

Sec. 55. (a) For purposes of law of this state other than this chapter and subject to subsection (b), a settlor of a first trust is deemed to be the settlor of the second trust with respect to the portion of the principal of the first trust subject to the exercise of the decanting power.
(b) In determining settlor intent with respect to a second trust, a settlor of the first trust, a settlor of the second trust, and the authorized fiduciary may be considered.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-56. Property Discovered After Distribution of the First Trust

Sec. 56. (a) Except as provided in subsection (c), if exercise of the decanting power was intended to distribute all of the principal of the first trust to one (1) or more second trusts, later discovered property belonging to the first trust and property paid to or acquired by the first trust after the exercise of the power is part of the trust estate of the second trust.
(b) Except as provided in subsection (c), if exercise of the decanting power was intended to distribute less than all of the principal of the first trust to one (1) or more second trusts, later discovered property belonging to the first trust or property paid to or acquired by the first trust after exercise of the power remains part of the trust estate of the first trust.
(c) An authorized fiduciary may provide in an exercise of the decanting power or by the terms of a second trust for disposition of later discovered property belonging to the first trust or property paid to or acquired by the first trust after exercise of the power.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-57. Liability Against Property of a First Trust

Sec. 57. A debt, liability, or other obligation enforceable against property of a first trust is enforceable to the same extent against the property when held by the second trust after exercise of the decanting power.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-58. Uniformity of the Law

Sec. 58. In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-59. Interpretation With Respect to the Electronic Signatures in Global and National Commerce Act

Sec. 59. This chapter modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7001 as amended and in effect on July 1, 2022, but does not modify, limit, or supersede Section 101(c) of that act, 15 U.S.C. 7001(c) as amended and in effect on July 1, 2022, or authorize electronic delivery of any of the notices described in Section 103(b) of that act, 15 U.S.C. 7003(b) as amended and in effect on July 1, 2022.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 10. Uniform Trust Decanting Act › 30-4-10-60. Severability

Sec. 60. If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter that can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable.
As added by P.L.161-2022, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 5. Powers of Attorney › Chapter 1. Applicability › 30-5-1-2. Powers Created Before July 1, 1991

Sec. 2. This article applies to all powers of attorney created before July 1, 1991, unless the application of this article would cause one (1) of the following to occur:
(1) An adverse effect on a right given a principal or an attorney in fact.
(2) The extension of a right not intended to be given at the time the power of attorney was created.
(3) The imposition of a duty or liability on a person that was not intended to be imposed at the time the power of attorney was created.
(4) The relief of a person from a duty or liability imposed by the terms of a power of attorney or the operation of law.
As added by P.L.149-1991, SEC.2.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 5. Powers of Attorney › Chapter 2. Definitions › 30-5-2-1.5. "Account"

Sec. 1.5. "Account", for purposes of IC 30-5-5-6.5, has the meaning set forth in IC 30-5-5-6.5(a)(1).
As added by P.L.231-2019, SEC.33.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 5. Powers of Attorney › Chapter 2. Definitions › 30-5-2-1.8. "All Other Matters"

Sec. 1.8. "All other matters", for purposes of IC 30-5-5-6.5, has the meaning set forth in IC 30-5-5-19.
As added by P.L.231-2019, SEC.34.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 5. Powers of Attorney › Chapter 2. Definitions › 30-5-2-2. "Attorney in Fact"

Sec. 2. "Attorney in fact" means the person designated to act for the principal under a power of attorney. The term includes any of the following:
(1) The original attorney in fact.
(2) A co-attorney in fact.
(3) A successor attorney in fact.
(4) A person to whom an attorney in fact has delegated authority.
As added by P.L.149-1991, SEC.2. Amended by P.L.143-2009, SEC.21.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 5. Powers of Attorney › Chapter 2. Definitions › 30-5-2-2.3. "Catalogue of Electronic Communications"

Sec. 2.3. "Catalogue of electronic communications" has the meaning set forth in IC 32-39-1-5.
As added by P.L.137-2016, SEC.9.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 5. Powers of Attorney › Chapter 2. Definitions › 30-5-2-2.7. "Content of an Electronic Communication"

Sec. 2.7. "Content of an electronic communication" has the meaning set forth in IC 32-39-1-6.
As added by P.L.137-2016, SEC.10.