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Statutes Text

Article - Estates and Trusts




§14–615.

    An authorized fiduciary may not exercise the decanting power to modify a provision in a first trust instrument granting another person the power to remove or replace the authorized fiduciary unless:

        (1)    If the modification applies only to the person, the person holding the power consents to the modification in a signed record;

        (2)    The person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed record and the modification grants a substantially similar power to another person; or

        (3)    A court approves the modification and the modification grants a substantially similar power to another person.



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