AN ACT TO AMEND TITLE 12 AND TITLE 13 OF THE DELAWARE CODE RELATING TO DECEDENTS’ ESTATES AND FIDUCIARY RELATIONS.

Section 1 of this Act amends§ 3301(d) of Title 12 by adding to the definition of “fiduciary” enforcers of purpose trusts under § 3556 of Title 12 that are acting in a fiduciary capacity, by adding to the definition of "nonfiduciary" enforcers of purpose trusts under § 3556 of Title 12 that are not acting in a fiduciary capacity, and by clarifying that others that are not acting in a fiduciary capacity are also nonfiduciaries. Section 2 of this Act amends § 3315(b) of Title 12 so that the statute now states expressly the practical effect of a discretionary interest in a trust merely being an expectancy, which is that a beneficiary of such an interest cannot compel a distribution from the trust. The statute continues to provide, however, that the standard of review under § 3315(a) of Title 12 applies in a suit by a beneficiary for abuse of discretion. Section 2 of this Act also deletes in 2 instances the use of the word “trustee” as being redundant because “fiduciary,” as defined in § 3301 of Title 12, already includes a trustee. Section 3 of this Act amends § 3326 of Title 12 to state expressly within the statute that a modification of a trust by consent while the trustor is living (under§ 3342 of Title 12) may be used to effectuate the resignation of a trustee or other officeholder. Section 3 of this Act also amends § 3326 to state expressly within the statute that a nonjudicial settlement agreement (under§ 3338 of Title 12) may be used to effectuate the resignation of a trustee or other officeholder where the trust’s governing instrument is silent concerning both resignation and the appointment of successor trustees or other officeholders. It is intended that these express statements in § 3326 of Title 12 will reduce the need to resort to a court petition to effectuate the resignation and resulting appointment. Section 4 of this Act amends § 3556 of Title 12 so that the statute: (1) Expressly states that a person is not deemed to be a beneficiary of a pu