(1) After notice to the qualified beneficiaries, the trustee of a trust property having a total value less than one hundred thousand dollars may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration.
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.
Upon termination of a trust pursuant to this section, the trustee shall distribute thetrust property in a manner consistent with the purposes of the trust.
This section does not apply to an easement for conservation or preservation.
Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1165, § 1, effective January 1, 2019.