Kentucky Revised Statutes · § 386B.13-080 — Court involvement in the exercise of decanting power

(1) On application of an authorized fiduciary, a person entitled to notice under KRS 386B.13-060(3), a beneficiary, or with respect to a charitable interest, the Attorney General or other person that has standing to enforce the charitable interest, the court may:

(a) Provide instructions to the authorized fiduciary regarding whether a proposed exercise of the decanting power is permitted under KRS 386B.13-010 to 386B.13-280 and consistent with the fiduciary duties of the authorized fiduciary;

(b) Appoint a special fiduciary and authorize the special fiduciary to determine whether the decanting power should be exercised under 386B.13-010 to 386B.13-280 and to exercise the decanting power;

(c) Approve an exercise of the decanting power;

(d) Determine that a proposed or attempted exercise of the decanting power is ineffective because:

1. After applying KRS 386B.13-210, the proposed or attempted exercise does not or did not comply with the provisions of 386B.13-010 to 386B.13-280; or

2. The proposed or attempted exercise would be or was an abuse of fiduciary's discretion or a breach of fiduciary duty;

(e) Determine the extent to which KRS 386B.13-210 applies to a prior exercise of the decanting power;

(f) Provide instructions to the trustee regarding the application of KRS 386B.13-210 to a prior exercise of the decanting power; or

(g) Order other relief to carry out the purposes of KRS 386B.13-010 to 386B.13-280.

(2) On application of an authorized fiduciary, the court may approve:

(a) An increase in the fiduciary's compensation under KRS 386B.13-150; or

(b) A modification under KRS 386B.13-170 of a provision granting a person the right to remove or replace the fiduciary.