Exercise of decanting power; written record

Sec. 40. An exercise of the decanting power must be made in a record signed by an authorized fiduciary. The signed record must: (1) directly or indirectly reference the notice required by section 35 of this chapter; (2) identify the first trust and the second trust; (3) identify and state the property of the first trust being distributed to each second trust; and (4) identify the property that remains in the first trust. As added by P.L.161-2022, SEC.3.