Current through Chapter 253 of the 2024 Legislative Session
Section 554D-410 - Modification or termination of trust; proceedings for approval or disapproval(a) In addition to the methods of termination prescribed by sections -411 through -414, a trust terminates to the extent the trust is revoked or expires pursuant to its terms, no purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful, contrary to public policy, or impossible to achieve.(b) A proceeding to approve or disapprove a proposed modification or termination under sections -411 through -416, or trust combination or division under section -417, may be commenced by a trustee or beneficiary, and a proceeding to approve or disapprove a proposed modification or termination under section -411 may be commenced by the settlor. The settlor of a charitable trust may maintain a proceeding to modify the trust under section -413.Added by L 2021, c 32,§ 2, eff. 1/1/2022.