Mississippi Code
Article 8 - Duties and Powers of Trustee
§ 91-8-814. Exercise of powers over discretionary and other interests; tax savings

Relative to exercise of powers over discretionary and other interests:
A trustee refusing to make or limiting distributions to beneficiaries other than the trustee due to the trustee's self-interest when the trustee also holds a beneficial interest subject to a discretionary interest; or
A trustee making a distribution in excess of an ascertainable standard to himself or herself as beneficiary when the trustee is restricted by an ascertainable standard in the trust.
If the settlor's spouse is named as a beneficiary, the settlor is still living and the trust is classified as a support trust, then the trustee shall consider the resources of the settlor's spouse, including the settlor's obligation of support, before making a distribution; and
In all other cases, unless otherwise provided in the trust, the trustee need not consider the beneficiary's resources in determining whether a distribution should be made.
The following provisions apply only to discretionary interests:
A discretionary interest is neither a property interest nor an enforceable right; it is a mere expectancy;
A court may review a trustee's distribution discretion only if the trustee acts dishonestly, acts with an improper motive, or fails to act, if under a duty to do so;
The following provisions apply only to mandatory or support interests:
A beneficiary of a mandatory or a support interest has an enforceable right to a distribution pursuant to a court's review;
A trustee's distribution decision may be reviewed for unreasonableness, dishonesty, improper motivation, or failure to act, if under a duty to do so; and
In the case of a support interest, nothing in this section shall raise a beneficiary's support interest to the level of a property interest.
Unless otherwise provided in subsection (f), and unless the terms of the trust expressly indicate that a rule in this subsection does not apply:
A person other than a settlor who is a beneficiary and trustee of a trust that confers on the trustee a power to make discretionary distributions to or for the trustee's personal benefit may exercise the power only in accordance with an ascertainable standard; and
A trustee may not exercise a power to make discretionary distributions to satisfy a legal obligation of support that the trustee personally owes another person.
A power that is limited or prohibited by subsection (d) may be exercised by a majority of the remaining trustees whose exercise of the power is not so limited or prohibited. If the power of all trustees is so limited or prohibited, the court may appoint a special fiduciary with authority to exercise the power.
Subsection (d) shall not apply to:
A power held by the settlor's spouse who is the trustee of a trust for which a marital deduction, as defined in Section 2056(b) (5) or 2523(e) of the Internal Revenue Code, was previously allowed;
Any trust during any period that the trust may be revoked or amended by its settlor; or
A trust if contributions to the trust qualify for the annual exclusion under Section 2503(c) of the Internal Revenue Code.