72-39-218. Saving provision. (1) If exercise of the decanting power would be effective under this chapter except that the second-trust instrument in part does not comply with this chapter, the exercise of the power is effective and the following rules apply with respect to the principal of the second trust attributable to the exercise of the power:
(a) A provision in the second-trust instrument that is not permitted under this chapter is void to the extent necessary to comply with this chapter.
(b) A provision required by this chapter to be in the second-trust instrument that is not contained in the instrument is deemed to be included in the instrument to the extent necessary to comply with this chapter.
(2) If a trustee or other fiduciary of a second trust determines that subsection (1) applies to a prior exercise of the decanting power, the fiduciary shall take corrective action consistent with the fiduciary's duties.
History: En. Sec. 22, 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