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Current as of January 01, 2023 | Updated by Findlaw Staff
(1) Subject to subsection (2) of this section, a trustee may:
(a) Combine two or more trusts into a single trust by taking into account the pro rata economic interests of each beneficiary of each trust; or
(b) Divide a trust into two or more separate trusts.
(2) In taking any of the actions under subsection (1) of this section, the trustee shall:
(a) Provide notice to all qualified beneficiaries in accordance with ORS 130.733;
(b) Consider the individual rights of each beneficiary;
(c) Exercise due care and prudent judgment;
(d) Consider the terms of the trust instrument and amendments, if any, as well as all applicable statutory law; and
(e) Take the action only if the result does not materially impair the rights of any beneficiary or adversely affect achievement of the intent of the trustor.
Cite this article: FindLaw.com - Oregon Revised Statutes Protective Proceedings; Powers of Attorney; Trusts § 130.230 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-13-protective-proceedings-powers-of-attorney-trusts/or-rev-st-sect-130-230/
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 before relying on it for your legal needs.
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