14-10411

14-10411. Modification or termination of
noncharitable irrevocable trust by consent

A. A noncharitable irrevocable trust may be terminated on consent of all of the
beneficiaries if the court concludes that continuance of the trust is not necessary to
achieve any material purpose of the trust. A noncharitable irrevocable trust may be
modified on consent of all of the beneficiaries if the court concludes that modification
is not inconsistent with a material purpose of the trust.

B. On termination of a trust under subsection A, the trustee shall distribute the
trust property as agreed by the beneficiaries.

C. If not all of the beneficiaries consent to a proposed modification or
termination of the trust under subsection A, the modification or termination may be
approved by the court if the court is satisfied that:

1. If all of the beneficiaries had consented, the trust could have been modified or
terminated under this section.

2. The interests of a beneficiary who does not consent will be adequately
protected.