AB803,,458 (a) The attorney general, after receiving notice under s. 701.1307, fails to object in a signed record delivered to the authorized fiduciary within the notice period.

AB803,,459 (b) The attorney general consents in a signed record to the 2nd trust or trusts being administered under the law of another jurisdiction.

AB803,,460 (c) The court approves the exercise of the decanting power.

AB803,,461 (d) The identified charitable organization consents in a signed record delivered to the authorized fiduciary.

AB803,,462 (6) This subchapter does not limit the powers and duties of the attorney general under the laws of this state other than this subchapter.

AB803,,463 701.1315 Trust limitation on decanting. (1) An authorized fiduciary may not exercise the decanting power to the extent the first-trust instrument expressly prohibits exercise of any of the following:

AB803,,464 (a) The decanting power.

AB803,,465 (b) A power granted by state law to the fiduciary to distribute part or all of the principal of the trust to another trust or to modify the trust.

AB803,,466 (2) Exercise of the decanting power is subject to any restriction in the first-trust instrument that expressly applies to exercise of any of the following:

AB803,,467 (a) The decanting power.

AB803,,468 (b) A power granted by state law to a fiduciary to distribute part or all of the principal of the trust to another trust or to modify the trust.

AB803,,469 (3) A general prohibition of the amendment or revocation of a first trust, a spendthrift clause, or a clause restraining the voluntary or involuntary transfer of a beneficiary’s interest does not preclude exercise of the decanting power.

AB803,,470 (4) Subject to subs. (1) and (2), an authorized fiduciary may exercise the decanting power under this subchapter even if the first-trust instrument permits the authorized fiduciary or another person to modify the first-trust instrument or to distribute part or all of the principal of the first trust to another trust.

AB803,,471 (5) If a first-trust instrument contains an express restriction described in sub. (2), the provision must be included in the 2nd-trust instrument.

AB803,,472 701.1316 Change in compensation. (1) If a first-trust instrument specifies an authorized fiduciary’s compensation, the fiduciary may not exercise the decanting power to increase the fiduciary’s compensation above the specified compensation unless any of the following applies:

AB803,,473 (a) All qualified beneficiaries of the 2nd trust consent to the increase in a signed record.

AB803,,474 (b) The increase is approved by the court.

AB803,,475 (2) If a first-trust instrument does not specify an authorized fiduciary’s compensation, the fiduciary may not exercise the decanting power to increase the fiduciary’s compensation above the compensation permitted by this chapter unless any of the following applies:

AB803,,476 (a) All qualified beneficiaries of the 2nd trust consent to the increase in a signed record.

AB803,,477 (b) The increase is approved by the court.

AB803,,478 (3) 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 fiduciary’s compensation for purposes of subs. (1) and (2).

AB803,,479 (4) This section does not apply to a decanting from a first trust that is a pooled trust described in 42 USC 1396p (d) (4) (C), or to a decanting to a 2nd trust that is a pooled trust described in 42 USC 1396p (d) (4) (C).

AB803,,480 701.1317 Relief from liability and indemnification. (1) Except as otherwise provided in this section, a 2nd-trust instrument may not relieve an authorized fiduciary from liability for breach of trust to a greater extent than the first-trust instrument unless any of the following applies:

AB803,,481 (a) All the qualified beneficiaries of the 2nd trust consent to the relief from liability in a signed record.

AB803,,482 (b) The relief from liability is approved by the court.

AB803,,483 (2) A 2nd-trust instrument may provide for indemnification of an authorized fiduciary of the first trust or another person acting in a fiduciary capacity under the first trust for any liability or claim that would have been payable from the first trust if the decanting power had not been exercised.

AB803,,484 (3) Absent consent of all qualified beneficiaries or the approval of the court, the 2nd-trust instrument may not reduce the aggregate fiduciary liability of all fiduciaries of the 2nd trust.

AB803,,485 (4) Subject to sub. (3), a 2nd-trust instrument may divide and reallocate fiduciary powers among fiduciaries, including one or more trustees, directing parties, trust protectors, or other persons, and relieve a fiduciary from liability for an act or failure to act of another fiduciary as permitted by law of this state other than this subchapter.

AB803,,486 701.1318 Removal or replacement of authorized fiduciary. (1) 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 any of the following applies: