1. (1) If the modification applies only to the person, the person holding the power consents to the modification in a signed record;
2. (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. (3) A court approves the modification and the modification grants a substantially similar power to another person.

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:

Added by Acts 2023, c. 715, § 1, eff. Oct. 1, 2023; Acts 2023, c. 716, § 1, eff. Oct. 1, 2023.