(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.