{"data":{"id":"us-ky/krs-386b.13-060","jurisdiction":"us-ky","citation":"KRS 386B.13-060","heading":"Notice -- Exercise of decanting power.","body":"(1) A notice period in this section begins on the day notice is given under subsection\n(3) of this section and ends fifty-nine (59) days after the day notice is given.\n(2) Except as otherwise provided in KRS 386B.13 -010 to 386B.13 -280, an authorized\nfiduciary may exercise the decanting power without the consent of any person and\nwithout court approval.\n(3) Except as otherwise provided in subsection (6) of this section, an authorized\nfiduciary shall give notice in a record of the intended exercise of the decanti ng\npower not less than sixty (60) days before the exercise to:\n(a) Each settlor of the first trust, if living or then in existence;\n(b) Each qualified beneficiary of the first trust;\n(c) Each holder of a presently exercisable power of appointment over any part or\nall of the first trust;\n(d) Each person that currently has the right to remove or replace the authorized\nfiduciary;\n(e) Each other fiduciary of the first trust;\n(f) Each fiduciary of the second trust; and\n(g) The Attorney General, if KRS 386B.13-130(2) applies.\n(4) An authorized fiduciary is not required to give notice under subsection (3) of this\nsection to a person that is not known to the fiduciary or is known to the fiduciary\nbut cannot be located by the fiduciary after reasonable diligence.\n(5) A notice under subsection (3) of this section shall:\n(a) Specify the manner in which the authorized fiduciary intends to exercise the\ndecanting power;\n(b) Specify the proposed effective date for exercise of the power; and\n(c) Include a copy of:\n1. The first-trust instrument; or\n2. All second-trust instruments.\n(6) The decanting power may be exercised before the expiration of the notice period\nunder subsection (1) of this section if all persons entitled to receive notice waive the\nperiod in a signed record.\n(7) The receipt of notice, waiver of the notice period, or expiration of the notice period\ndoes not affect the right of a person to file an application under KRS 386B.13 -080\nasserting that:\n(a) An attempted exercise of the decanting power is ineffective because it did not\ncomply with the provisions of KRS 386B.13 -010 to 386B.13 -280 or was an\nabuse of discretion or breach of fiduciary duty; or\n(b) KRS 386B.13-210 applies to the exercise of the decanting power.\n(8) An exercise of the decanting power is not ineffective because  of the failure to give\nnotice to one (1) or more persons under subsection (3) of this section if the\nauthorized fiduciary acted with reasonable care to comply with subsection (3) of\nthis section.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=57755","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:20Z","sha256":"3719f6889b547f73281e4f6838bab938845f74cd9d0ea5ea0ab8132c5f652704","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386b.13-050","next":"us-ky/krs-386b.13-070"},"notice":"GroundRules: Original legal text. Not legal advice."}