Except as otherwise provided in the general statutes, the following rules apply to a trust created pursuant to this section:
(1) A trust may be created for a noncharitable purpose without a definite or definitely ascertainable beneficiary or for a noncharitable but otherwise valid purpose to be selected by the trustee. The trust may not be enforced for more than ninety years. The ninety-year period specified in this subdivision applies only to trusts that become irrevocable on or after January 1, 2020.
(2) A trust authorized by this section may be enforced by a person appointed in the terms of the trust or, if no person is appointed, by a person appointed by the court.
(3) Property of a trust authorized by this section may be applied only to its intended use, except to the extent the court determines that the value of the trust property exceeds the amount required for the intended use. Except as otherwise provided in the terms of the trust, property not required for the intended use shall be distributed to (A) the settlor, if then living; or (B) if the settlor is not living, to the settlor's successors in interest.
(P.A. 19-137, S. 29.)
History: P.A. 19-137 effective January 1, 2020.