United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 18-B, § 1215: Change in compensation, 2021

An authorized fiduciary generally may not use decanting to increase compensation above what the first trust instrument or this Part allows, unless all qualified beneficiaries consent in a signed record or the court…

decanting powerfiduciary compensation

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01

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“An authorized fiduciary generally may not use decanting to increase compensation above what the first trust instrument or this Part allows, unless all qualified beneficiaries consent in a signed record or the court approves.”

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    Enacted 2021 · Source version 1 Oct 2025. The date shown identifies this source expression and should not be treated as proof that no later change exists.

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Change in compensation

An authorized fiduciary generally may not use decanting to increase compensation above what the first trust instrument or this Part allows, unless all qualified beneficiaries consent in a signed record or the court approves.

Section 1215

04

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Source record from legislature.maine.gov · Enacted 2021 · Source version 1 Oct 2025

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Provision
§ 1215Change in compensationProvision

An authorized fiduciary generally may not use decanting to increase compensation above what the first trust instrument or this Part allows, unless all qualified beneficiaries consent in a signed record or the court approves.

1. Compensation specified. If a first-trust instrument specifies an authorized fiduciary's compensation, the authorized fiduciary may not exercise the decanting power to increase the authorized fiduciary's compensation above the specified compensation unless: A. All qualified beneficiaries of the 2nd trust consent to the increase in a signed record; or [PL 2021, c. 235, §1 (NEW).] B. The increase is approved by the court. [PL 2021, c. 235, §1 (NEW).] [PL 2021, c. 235, §1 (NEW).] 2. Compensation not specified. If a first-trust instrument does not specify an authorized fiduciary's compensation, the authorized fiduciary may not exercise the decanting power to increase the authorized fiduciary's compensation above the compensation permitted by this Part unless: A. All qualified beneficiaries of the 2nd trust consent to the increase in a signed record; or [PL 2021, c. 235, §1 (NEW).] B. The increase is approved by the court. [PL 2021, c. 235, §1 (NEW).] [PL 2021, c. 235, §1 (NEW).] 3. Change in compensation incidental. A change in an authorized fiduciary's compensation that is incidental to other changes made by the exercise of the decanting power is not an increase in the authorized fiduciary's compensation for purposes of subsections 1 and 2. [PL 2021, c. 235, §1 (NEW).]
Section 1215Verify source

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  • 1 Oct 2025 · currentEnglish

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