2017 Indiana Code
TITLE 30. Trusts and Fiduciaries
ARTICLE 4. TRUST CODE
CHAPTER 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust
30-4-3-26. Power to direct a deviation from the terms of the trust
Sec. 26. (Power to Direct a Deviation from the Terms of the Trust)
(a) Upon petition by the trustee or a beneficiary, the court shall direct or permit the trustee to deviate from a term of the trust if, owing to circumstances not known to the settlor and not anticipated by him, compliance would defeat or substantially impair the accomplishment of the purposes of the trust. In that case, if necessary to carry out the purposes of the trust, the court may direct or permit the trustee to do acts which are not authorized or are forbidden by the terms of the trust, or may prohibit the trustee from performing acts required by the terms of the trust.
(b) The trustee may deviate from the terms of the trust as provided in subsection (a) of this section, without first obtaining the permission of the court, if there is an emergency or if he reasonably believes that there is an emergency, and before deviating he has no opportunity to apply to the court for permission to deviate.
(c) The trustee is liable for any loss or damage which results if he fails to apply to the court for permission to deviate from the terms of the trust, when he knows or should know that, owing to circumstances not known to the settlor and not anticipated by him, compliance will defeat or substantially impair the accomplishment of the purposes of the trust.
Formerly: Acts 1971, P.L.416, SEC.4.
