Section 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:(a) All qualified beneficiaries of the 2nd trust consent to the increase in a signed record.(b) The increase is approved by the court.(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: (a) All qualified beneficiaries of the 2nd trust consent to the increase in a signed record.(b) The increase is approved by the court.(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).(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).Added by Acts 2023 ch, 127,s 117, eff. 3/23/2024.