19504
Effective Jan 1, 2019Added by Stats. 2018, Ch. 407, Sec. 1. (SB 909) Effective January 1, 2019.
- (a) In exercising the decanting power, an authorized fiduciary shall act in accordance with its fiduciary duties, including the duty to act in accordance with the purposes of the first trust.
- (b) This part does not create or imply a duty to exercise the decanting power or to inform beneficiaries about the applicability of this part.
- (c) Except as otherwise provided in a first trust instrument, for purposes of this part, the terms of the first trust are deemed to include the decanting power.