IC 30-4-10-35 — Authorized fiduciary; notice of intent to exercise decanting power
Chapter 10. Uniform Trust Decanting Act
Section text
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.
Source: official publisher (2026 edition)