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.
Structure Indiana Code
Title 30. Trusts and Fiduciaries
Chapter 10. Uniform Trust Decanting Act
30-4-10-2. "Appointive Property"
30-4-10-3. "Ascertainable Standard"
30-4-10-4. "Authorized Fiduciary"
30-4-10-6. "Beneficiary With Disability"
30-4-10-7. "Charitable Interest"
30-4-10-8. "Charitable Organization"
30-4-10-9. "Charitable Purpose"
30-4-10-11. "Current Beneficiary"
30-4-10-13. "Designated Representative"
30-4-10-14. "Expanded Distributive Discretion"
30-4-10-16. "First-Trust Instrument"
30-4-10-17. "General Power of Appointment"
30-4-10-20. "Power of Appointment"
30-4-10-22. "Presently Exercisable Power of Appointment"
30-4-10-23. "Qualified Beneficiary"
30-4-10-24. "Reasonably Definite Standard"
30-4-10-27. "Second-Trust Instrument"
30-4-10-31. "Terms of the Trust"
30-4-10-32. "Trust Instrument"
30-4-10-34. Liability for an Action or Failure to Act by a Trustee or Person
30-4-10-35. Authorized Fiduciary; Notice of Intent to Exercise Decanting Power
30-4-10-36. Notice Requirements
30-4-10-37. Effect of Notice on Exercise of Decanting Power
30-4-10-38. Notice to a Person Authorized to Represent Another Person
30-4-10-40. Exercise of Decanting Power; Written Record
30-4-10-42. Limited Distributive Discretion
30-4-10-43. Beneficiary With a Disability
30-4-10-44. Determinable Charitable Interest; Authority of the Attorney General
30-4-10-45. First-Trust Instrument Restriction on Decanting Power
30-4-10-46. Compensation of Authorized Fiduciary
30-4-10-47. Second-Trust Instrument; Liability of Authorized Fiduciary
30-4-10-48. Modification of the First-Trust Instrument
30-4-10-50. Duration of Second Trust; Property Attributable to Both First Trust and Second Trust
30-4-10-51. Discretionary Distribution
30-4-10-54. Reference to Trust Instrument or Terms of Trust Instrument
30-4-10-55. Decanting Power of a Settlor of a First Trust; Settlor Intent of Second Trust
30-4-10-56. Property Discovered After Distribution of the First Trust
30-4-10-57. Liability Against Property of a First Trust