1. On petition by a trustee or beneficiary, the court may terminate or modify a noncharitable
trust or appoint a new trustee if the court determines that the value of the trust
property is insufficient to justify the cost of administration involved and that continuation
of the trust under its existing terms would defeat or significantly impair the accomplishment
of the trust purposes.
2. Upon termination of a trust under this section, the trustee shall distribute the
trust property in accordance with the probable intention of the settlor under the
circumstances. Extrinsic evidence is admissible for the purpose of ascertaining the probable intention
of the settlor.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.