30-4518. Removal or replacement of authorized fiduciary.
101 words·~1 min read·
/ne/chapter-30/30-4518A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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:
(1)the person holding the power consents to the modification in a signed record and the modification applies only to the person;
(2)the person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed record and the modification grants a substantially similar power to another person; or
(3)the court approves the modification and the modification grants a substantially similar power to another person.