A fiduciary may at any time obtain the written consent of all of the current income beneficiaries and presumptive remainder beneficiaries of a trust or decedent's estate as to the fiduciary's exercise of any discretion granted under this chapter, including the application of the chapter to pre-existing trusts or decedent's estates, and such written consent shall conclusively bind all persons who may have any interest in the affected trust or decedent's estate, including all contingent remainder beneficiaries and potential appointees of the affected trust or decedent's estate.
Structure Code of Alabama
Title 19 - Fiduciaries and Trusts.
Chapter 3A - Alabama Principal and Income Act.
Article 6 - Miscellaneous Provisions.
Section 19-3A-601 - Uniformity of Application and Construction.
Section 19-3A-602 - Severability Clause.
Section 19-3A-603 - Effective Date.
Section 19-3A-604 - Application to Existing Trusts and Estates.
Section 19-3A-605 - Consent of Beneficiaries.
Section 19-3A-606 - Applicability to Tenant and Remainder Interests.
Section 19-3A-607 - Applicability of Section 19-3a-409.
Section 19-3A-608 - Application of Alabama Uniform Trust Code.