72-39-222. Later-discovered property. (1) Except as otherwise provided in subsection (3), if exercise of the decanting power was intended to distribute all the principal of the first trust to one or more second trusts, later-discovered property belonging to the first trust and property paid to or acquired by the first trust after the exercise of the power is part of the trust estate of the second trust or trusts.
(2) Except as otherwise provided in subsection (3), if exercise of the decanting power was intended to distribute less than all the principal of the first trust to one or more second trusts, later-discovered property belonging to the first trust or property paid to or acquired by the first trust after exercise of the power remains part of the trust estate of the first trust.
(3) An authorized fiduciary may provide in an exercise of the decanting power or by the terms of a second trust for disposition of later-discovered property belonging to the first trust or property paid to or acquired by the first trust after exercise of the power.
History: En. Sec. 26, 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