(1) In this section, "fiduciary decision" means: (a) a fiduciary's allocation between income and principal or other determination regarding income and principal required or authorized by the terms of the trust or this chapter; (b) the fiduciary's exercise or nonexercise of a discretionary power regarding income and principal granted by the terms of the trust or this chapter, including the power to: (i) adjust under Section 75A-5-203; (ii) convert an income trust to a unitrust under Subsection 75A-5-303(1)(a); (iii) change the percentage or method used to calculate a unitrust amount under Subsection 75A-5-303(1)(b); or (iv) convert a unitrust to an income trust under Subsection 75A-5-303(1)(c); or (c) the fiduciary's implementation of a decision described in Subsection (1)(a) or (b). (2) The court may not order a fiduciary to change a fiduciary decision, unless the court determines that the fiduciary decision was an abuse of the fiduciary's discretion. (3) (a) If the court determines that a fiduciary decision was an abuse of the fiduciary's discretion, the court may order a remedy authorized by law, including a remedy authorized in Section 75B-2-1001. (b) To place the beneficiaries in the positions that the beneficiaries would have occupied if there had not been an abuse of the fiduciary's discretion, the court may order: (i) the fiduciary to exercise or refrain from exercising the power to adjust under Section 75A-5-203; (ii) the fiduciary to exercise or refrain from exercising the power to: (A) convert an income trust to a unitrust under Subsection 75A-5-303(1)(a); (B) change the percentage or method used to calculate a unitrust amount under Subsection 75A-5-303(1)(b); or (C) convert a unitrust to an income trust under Subsection 75A-5-303(1)(c); (iii) the fiduciary to distribute an amount to a beneficiary; (iv) a beneficiary to return some or all of a distribution; or (v) the fiduciary to withhold an amount from one or more future distributions to a beneficiary. (4) (a) On petition by a fiduciary for instruction, the court may determine whether a proposed fiduciary decision will result in an abuse of the fiduciary's discretion. (b) A beneficiary that opposes the proposed decision has the burden to establish that the proposed decision will result in an abuse of the fiduciary's discretion if the petition: (i) describes the proposed decision; (ii) contains sufficient information to inform the beneficiary of the reasons for making the proposed decision and the facts on which the fiduciary relies; and (iii) explains how the beneficiary will be affected by the proposed decision.
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