Petition to modify terms of trust--Circumstances--Distribution of property.

Checkout our iOS App for a better way to browser and research.

55-3-26. Petition to modify terms of trust--Circumstances--Distribution of property.

On petition by a trustee or beneficiary, the court may modify the administrative or dispositive terms of the trust or terminate the trust if, because of circumstances not anticipated by the trustor, modification or termination of the trust would substantially further the trustor's purposes in creating the trust. Upon termination of a trust under this section, the trust property shall be distributed in accordance with the trustor's probable intention.

Source: SL 1998, ch 282, §4.


Download our app to see the most-to-date content.