72-39-201. Fiduciary duty. (1) In exercising the decanting power, 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.
(2) This chapter does not create or imply a duty to exercise the decanting power or to inform beneficiaries about the applicability of this chapter.
(3) Except as otherwise provided in a first-trust instrument, for purposes of this chapter and 72-38-801 and 72-38-802(1), the terms of the first trust are deemed to include the decanting power.
History: En. Sec. 4, Ch. 177, L. 2021.
Structure Montana Code Annotated
Title 72. Estates, Trusts, and Fiduciary Relationships
Chapter 39. Uniform Trust Decanting Act
72-39-202. Reasonable reliance
72-39-203. Notice -- exercise of decanting power
72-39-207. Decanting power under expanded distributive discretion
72-39-208. Decanting power under limited distributive discretion
72-39-209. Trust for beneficiary with disability
72-39-210. Protection of charitable interest
72-39-211. Trust limitation on decanting
72-39-212. Change in compensation
72-39-213. Relief from liability and indemnification
72-39-214. Removal or replacement of authorized fiduciary
72-39-215. Tax-related limitations
72-39-216. Duration of second trust
72-39-217. Need to distribute not required
72-39-219. Trust for care of animal
72-39-220. Terms of second trust