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Fiduciary duty in exercising decanting power

KRS 386B.13-030
in effect
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386B.13-030. Fiduciary duty in exercising decanting power (1) 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. (2) KRS 386B.13-010 to 386B.13-280 do not create or imply a duty to exercise the decanting power or to inform the beneficiaries about the applicability of KRS 386B.13-010 to 386B.13-280. (3) Except as otherwise provided in a first-trust instrument, for purposes of KRS 386B.12-010 to 386B.12-170 and 386B.8-010 and 386B.8-020, the terms of the first trust are deemed to include the decanting power. Effective: July 15, 2026 History: Created 2026 Ky. Acts ch. 134, sec. 89, effective July 15, 2026.
Source: Kentucky Legislative Research Commission (legislature.ky.gov)URL: https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=57752Fetched: 10/20/2026

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