(a) An authorized fiduciary may not exercise the decanting power to the extent the first-trust instrument expressly prohibits exercise of:
(1) The decanting power; or
(2) A power granted by state law to the fiduciary to distribute part, or all of, the principal of the trust to another trust or to modify the trust.
(b) Exercise of the decanting power is subject to any restriction in the first-trust instrument that expressly applies to exercise of:
(1) The decanting power; or
(2) A power granted by state law to a fiduciary to distribute part, or all of, the principal of the trust to another trust or to modify the trust.
(c) A general prohibition of the amendment or revocation of a first trust, a spendthrift clause, or a clause restraining the voluntary or involuntary transfer of a beneficiarys interest does not preclude exercise of the decanting power.
(d) Subject to subsections (a) and (b) of this section, an authorized fiduciary may exercise the decanting power under this article even if the first-trust instrument permits the authorized fiduciary or another person to modify the first-trust instrument or to distribute part, or all of, the principal of the first trust to another trust.
(e) If a first-trust instrument contains an express prohibition described in subsection (a) of this section or an express restriction described in subsection (b) of this section, the provision must be included in the second-trust instrument.
Structure West Virginia Code
Chapter 44D. Uniform Trust Code
Article 8B. West Virginia Uniform Trust Decanting Act
§44D-8B-5. Application; Governing Law
§44D-8B-6. Reasonable Reliance
§44D-8B-7. Notice; Exercise of Decanting Power
§44D-8B-11. Decanting Power Under Expanded Distributive Discretion
§44D-8B-12. Decanting Power Under Limited Distributive Discretion
§44D-8B-13. Trust for Beneficiary With Disability
§44D-8B-14. Protection of Charitable Interest
§44D-8B-15. Trust Limitation on Decanting
§44D-8B-16. Change in Compensation
§44D-8B-17. Relief From Liability and Indemnification
§44D-8B-18. Removal or Replacement of Authorized Fiduciary
§44D-8B-19. Tax-Related Limitations
§44D-8B-20. Duration of Second Trust
§44D-8B-21. Need to Distribute Not Required
§44D-8B-23. Trust for Care of Animal
§44D-8B-24. Terms of Second Trust
§44D-8B-26. Later-Discovered Property
§44D-8B-28. Uniformity of Application and Construction
§44D-8B-29. Relation to Electronic Signatures in Global and National Commerce Act