Section 760 ILCS 3/414 - Modification or termination of uneconomic trust(a) After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than $100,000 may terminate the trust if the trustee concludes that the costs of continuing the trust will substantially impair accomplishment of the purpose of the trust. (b) The court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of administration. (c) Upon termination of a trust under this Section, the trustee shall distribute the trust property to the current beneficiaries in the proportions to which they are entitled to mandatory current distributions, or if their interests are indefinite, to the current beneficiaries per stirpes if they have a common ancestor, or if not, then in equal shares. The trustee shall give notice to the current beneficiaries at least 30 days before the effective date of the termination. (d) This Section does not apply to an easement for conservation or preservation. (e) If a particular trustee is a current beneficiary of the trust or is legally obligated to a current beneficiary, then that particular trustee may not participate as a trustee in the exercise of this termination power; however, if the trust has one or more co-trustees who are not so disqualified from participating, the co-trustee or co-trustees may exercise this power. (f) This Section does not apply to the extent that it would cause a trust otherwise qualifying for a federal or state tax benefit or other benefit not to qualify, nor does it apply to trusts for domestic or pet animals. Added by P.A. 101-0048,§ 414, eff. 1/1/2020.