{"data":{"id":"us-ky/krs-386b.13-110","jurisdiction":"us-ky","citation":"KRS 386B.13-110","heading":"Decanting power under limited distributive discretion.","body":"(1) As used in this section, \"limited distributive discretion\" means a discretionary\npower of distribution that is limited to an ascertainable standard or a reasonably\ndefinite standard.\n(2) An authorized fiduciary that has limited distributive discretion over the principal of\nthe first trust for the benefit of one (1) or more current beneficiaries may exercise\nthe decanting power over the principal of the first trust.\n(3) Under this section and subject to KRS 386B.13 -130, a second trust may be created\nor administered under the law of any jurisdiction. Under this section, the second\ntrusts, in the aggregate, shall grant each beneficiary of the first trust beneficial\ninterests which are substantially similar to the beneficial interests of the beneficiary\nof the first trust.\n(4) A power to make a distribution under a second trust for the benefit of a beneficiary\nwho is an individual is substantially similar to a power under the first trust  to make\na distribution directly to the beneficiary. A distribution is for the benefit of a\nbeneficiary if:\n(a) The distribution is applied for the benefit of the beneficiary;\n(b) The beneficiary is under a legal disability or the trustee reasonably believ es\nthe beneficiary is incapacitated, and the distribution is made as permitted\nunder this chapter; or\n(c) The distribution is made as permitted under the terms of the first -trust\ninstrument and the second-trust instrument for the benefit of the beneficiary.\n(5) If an authorized fiduciary has limited distributive discretion over part but not all of\nthe principal of a first trust, the fiduciary may exercise the decanting power under\nthis section over that part of the principal over which the authorized fiduci ary has\nlimited distributive discretion.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=57760","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:20Z","sha256":"4e77652ee6df928455601dc2cb12bc089827adf41bb23193e11aaf547aa5757f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386b.13-100","next":"us-ky/krs-386b.13-120"},"notice":"GroundRules: Original legal text. Not legal advice."}