Neb. Rev. Stat. §§ 30-4518

Current with changes through the 2024 First Special Legislative Session

Section 30-4518 - Removal or replacement of authorized fiduciary

An authorized fiduciary may not exercise the decanting power to modify a provision in a first-trust instrument granting another person power to remove or replace the fiduciary unless:

(1) the person holding the power consents to the modification in a signed record and the modification applies only to the person;

(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) the court approves the modification and the modification grants a substantially similar power to another person.

Neb. Rev. Stat. §§ 30-4518

Laws 2020, LB 808, § 28.

Laws 2020, LB 808,§ 28, eff. 11/14/2020.