(a) If a first-trust instrument specifies an authorized fiduciarys compensation, the fiduciary may not exercise the decanting power to increase the fiduciarys compensation above the specified compensation unless:
(1) All qualified beneficiaries of the second trust consent to the increase in a signed record; or
(2) The increase is approved by the court.
(b) If a first-trust instrument does not specify an authorized fiduciarys compensation, the fiduciary may not exercise the decanting power to increase the fiduciarys compensation above the compensation permitted by this chapter unless:
(1) All qualified beneficiaries of the second trust consent to the increase in a signed record; or
(2) The increase is approved by the court.
(c) A change in an authorized fiduciarys compensation which is incidental to other changes made by the exercise of the decanting power is not an increase in the fiduciarys compensation for purposes of subsections (a) and (b) of this section.
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