19517
Effective Jan 1, 2019Added by Stats. 2018, Ch. 407, Sec. 1. (SB 909) Effective January 1, 2019.
- (a) Except as otherwise provided in this section, a second trust instrument may not relieve an authorized fiduciary from liability for breach of trust to a greater extent than the first trust instrument.
- (b) A second trust instrument may provide for indemnification of an authorized fiduciary of the first trust or another person acting in a fiduciary capacity under the first trust for any liability or claim that would have been payable from the first trust if the decanting power had not been exercised.
- (c) A second trust instrument may not reduce fiduciary liability in the aggregate.
- (d) Subject to subdivision (c), a second trust instrument may reallocate fiduciary powers among fiduciaries as permitted by the law of this state other than this part.