2020 Nebraska Revised Statutes
Chapter 30 - Decedents' Estates; Protection of Persons and Property
30-4522 Saving provision.
30-4522. Saving provision.
(a) If exercise of the decanting power would be effective under the Uniform Trust Decanting Act except that the second-trust instrument in part does not comply with the act, the exercise of the power is effective and the following rules apply with respect to the principal of the second trust attributable to the exercise of the power:
(1) A provision in the second-trust instrument which is not permitted under the act is void to the extent necessary to comply with the act.
(2) A provision required by the act to be in the second-trust instrument which is not contained in the instrument is deemed to be included in the instrument to the extent necessary to comply with the act.
(b) If a trustee or other fiduciary of a second trust determines that subsection (a) of this section applies to a prior exercise of the decanting power, the fiduciary shall take corrective action consistent with the fiduciary's duties.
Source
- Laws 2020, LB808, ยง 32.
- Operative Date: November 14, 2020
