(a) The power to appoint a successor trustee under a governing instrument or under section 33 of this chapter includes:(1) the power to appoint multiple successor trustees; and(2) the power to allocate trustee powers to one (1) or more trustees.(b) A trustee to whom powers:(1) have been exclusively allocated under subsection (a) must be a fiduciary only with respect to the powers allocated; and(2) have not been allocated under subsection (a) is not liable for the actions of a trustee to whom the powers, duties, and responsibilities are allocated.(c) The rules governing the rights, powers, duties, and liabilities of a governing instrument under this chapter apply to a trustee appointed under this section unless expressly limited by the terms of a governing instrument.As added by P.L.161-2022, SEC.1.
Indiana Legal Code