15400. Unless a trust is expressly made irrevocable by the trust
instrument, the trust is revocable by the settlor. This section
applies only where the settlor is domiciled in this state when the
trust is created, where the trust instrument is executed in this
state, or where the trust instrument provides that the law of this
state governs the trust.
15401. (a) A trust that is revocable by the settlor may be revoked
in whole or in part by any of the following methods:
(1) By compliance with any method of revocation provided in the
trust instrument.
(2) By a writing (other than a will) signed by the settlor and
delivered to the trustee during the lifetime of the settlor. If the
trust instrument explicitly makes the method of revocation provided
in the trust instrument the exclusive method of revocation, the trust
may not be revoked pursuant to this paragraph.
(b) Unless otherwise provided in the instrument, if a trust is
created by more than one settlor, each settlor may revoke the trust
as to the portion of the trust contributed by that settlor, except as
provided in Section 761 of the Family Code.
(c) A trust may not be modified or revoked by an attorney in fact
under a power of attorney unless it is expressly permitted by the
trust instrument.
(d) Nothing in this section limits the authority to modify or
terminate a trust pursuant to Section 15403 or 15404 in an
appropriate case.
(e) The manner of revocation of a trust revocable by the settlor
that was created by an instrument executed before July 1, 1987, is
governed by prior law and not by this section.
15402. Unless the trust instrument provides otherwise, if a trust
is revocable by the settlor, the settlor may modify the trust by the
procedure for revocation.
15403. (a) Except as provided in subdivision (b), if all
beneficiaries of an irrevocable trust consent, they may compel
modification or termination of the trust upon petition to the court.
(b) If the continuance of the trust is necessary to carry out a
material purpose of the trust, the trust cannot be modified or
terminated unless the court, in its discretion, determines that the
reason for doing so under the circumstances outweighs the interest in
accomplishing a material purpose of the trust. Under this section
the court does not have discretion to permit termination of a trust
that is subject to a valid restraint on transfer of the beneficiary's
interest as provided in Chapter 2 (commencing with Section 15300).
15404. (a) If the settlor and all beneficiaries of a trust consent,
they may compel the modification or termination of the trust.
(b) If any beneficiary does not consent to the modification or
termination of the trust, upon petition to the court, the other
beneficiaries, with the consent of the settlor, may compel a
modification or a partial termination of the trust if the interests
of the beneficiaries who do not consent are not substantially
impaired.
(c) If the trust provides for the disposition of principal to a
class of persons described only as "heirs" or "next of kin" of the
settlor, or using other words that describe the class of all persons
who would take under the rules of intestacy, the court may limit the
class of beneficiaries whose consent is needed to compel the
modification or termination of the trust to the beneficiaries who are
reasonably likely to take under the circumstances.
15405. For the purposes of Sections 15403 and 15404, the consent of
a beneficiary who lacks legal capacity, including a minor, or who is
an unascertained or unborn person may be given in proceedings before
the court by a guardian ad litem, if it would be appropriate to do
so. In determining whether to give consent, the guardian ad litem may
rely on general family benefit accruing to living members of the
beneficiary's family as a basis for approving a modification or
termination of the trust.
15406. In determining the class of beneficiaries whose consent is
necessary to modify or terminate a trust pursuant to Section 15403 or
15404, the presumption of fertility is rebuttable.
15407. (a) A trust terminates when any of the following occurs:
(1) The term of the trust expires.
(2) The trust purpose is fulfilled.
(3) The trust purpose becomes unlawful.
(4) The trust purpose becomes impossible to fulfill.
(5) The trust is revoked.
(b) On termination of the trust, the trustee continues to have the
powers reasonably necessary under the circumstances to wind up the
affairs of the trust.
15408. (a) On petition by a trustee or beneficiary, if the court
determines that the fair market value of the principal of a trust has
become so low in relation to the cost of administration that
continuation of the trust under its existing terms will defeat or
substantially impair the accomplishment of its purposes, the court
may, in its discretion and in a manner that conforms as nearly as
possible to the intention of the settlor, order any of the following:
(1) Termination of the trust.
(2) Modification of the trust.
(3) Appointment of a new trustee.
(b) Notwithstanding subdivision (a), if the trust principal does
not exceed forty thousand dollars ($40,000) in value, the trustee has
the power to terminate the trust.
(c) The existence of a trust provision restraining transfer of the
beneficiary's interest does not prevent application of this section.
15409. (a) On petition by a trustee or beneficiary, the court may
modify the administrative or dispositive provisions of the trust or
terminate the trust if, owing to circumstances not known to the
settlor and not anticipated by the settlor, the continuation of the
trust under its terms would defeat or substantially impair the
accomplishment of the purposes of the trust. In this case, if
necessary to carry out the purposes of the trust, the court may order
the trustee to do acts that are not authorized or are forbidden by
the trust instrument.
(b) The court shall consider a trust provision restraining
transfer of the beneficiary's interest as a factor in making its
decision whether to modify or terminate the trust, but the court is
not precluded from exercising its discretion to modify or terminate
the trust solely because of a restraint on transfer.
15410. At the termination of a trust, the trust property shall be
disposed of as follows:
(a) In the case of a trust that is revoked by the settlor, as
directed by the settlor.
(b) In the case of a trust that is terminated by the consent of
the settlor and all beneficiaries, as agreed by the settlor and all
beneficiaries.
(c) In any other case, as provided in the trust instrument or in a
manner directed by the court that conforms as nearly as possible to
the intention of the settlor as expressed in the trust instrument.
(d) If a trust is terminated by the trustee pursuant to
subdivision (b) of Section 15408, the trust property may be
distributed as determined by the trustee pursuant to the standard
provided in subdivision (c) without the need for a court order. Where
the trust instrument does not provide a manner of distribution at
termination and the settlor's intent is not adequately expressed in
the trust instrument, the trustee may distribute the trust property
to the living beneficiaries on an actuarial basis.
15411. If the terms of two or more trusts are substantially
similar, on petition by a trustee or beneficiary, the court, for good
cause shown, may combine the trusts if the court determines that
administration as a single trust will not defeat or substantially
impair the accomplishment of the trust purposes or the interests of
the beneficiaries.
15412. On petition by a trustee or beneficiary, the court, for good
cause shown, may divide a trust into two or more separate trusts, if
the court determines that dividing the trust will not defeat or
substantially impair the accomplishment of the trust purposes or the
interests of the beneficiaries.
15413. A trust provision, express or implied, that the trust may
not be terminated is ineffective insofar as it purports to be
applicable after the expiration of the longer of the periods provided
by the statutory rule against perpetuities, Article 2 (commencing
with Section 21205) of Chapter 1 of Part 2 of Division 11.
15414. Notwithstanding any other provision in this chapter, if a
trust continues in existence after the expiration of the longer of
the periods provided by the statutory rule against perpetuities,
Article 2 (commencing with Section 21205) of Chapter 1 of Part 2 of
Division 11, the trust may be terminated in either of the following
manners:
(a) On petition by a majority of the beneficiaries.
(b) On petition by the Attorney General or by any person who would
be affected by the termination, if the court finds that the
termination would be in the public interest or in the best interest
of a majority of the persons who would be affected by the
termination.
15400. Unless a trust is expressly made irrevocable by the trust
instrument, the trust is revocable by the settlor. This section
applies only where the settlor is domiciled in this state when the
trust is created, where the trust instrument is executed in this
state, or where the trust instrument provides that the law of this
state governs the trust.
15401. (a) A trust that is revocable by the settlor may be revoked
in whole or in part by any of the following methods:
(1) By compliance with any method of revocation provided in the
trust instrument.
(2) By a writing (other than a will) signed by the settlor and
delivered to the trustee during the lifetime of the settlor. If the
trust instrument explicitly makes the method of revocation provided
in the trust instrument the exclusive method of revocation, the trust
may not be revoked pursuant to this paragraph.
(b) Unless otherwise provided in the instrument, if a trust is
created by more than one settlor, each settlor may revoke the trust
as to the portion of the trust contributed by that settlor, except as
provided in Section 761 of the Family Code.
(c) A trust may not be modified or revoked by an attorney in fact
under a power of attorney unless it is expressly permitted by the
trust instrument.
(d) Nothing in this section limits the authority to modify or
terminate a trust pursuant to Section 15403 or 15404 in an
appropriate case.
(e) The manner of revocation of a trust revocable by the settlor
that was created by an instrument executed before July 1, 1987, is
governed by prior law and not by this section.
15402. Unless the trust instrument provides otherwise, if a trust
is revocable by the settlor, the settlor may modify the trust by the
procedure for revocation.
15403. (a) Except as provided in subdivision (b), if all
beneficiaries of an irrevocable trust consent, they may compel
modification or termination of the trust upon petition to the court.
(b) If the continuance of the trust is necessary to carry out a
material purpose of the trust, the trust cannot be modified or
terminated unless the court, in its discretion, determines that the
reason for doing so under the circumstances outweighs the interest in
accomplishing a material purpose of the trust. Under this section
the court does not have discretion to permit termination of a trust
that is subject to a valid restraint on transfer of the beneficiary's
interest as provided in Chapter 2 (commencing with Section 15300).
15404. (a) If the settlor and all beneficiaries of a trust consent,
they may compel the modification or termination of the trust.
(b) If any beneficiary does not consent to the modification or
termination of the trust, upon petition to the court, the other
beneficiaries, with the consent of the settlor, may compel a
modification or a partial termination of the trust if the interests
of the beneficiaries who do not consent are not substantially
impaired.
(c) If the trust provides for the disposition of principal to a
class of persons described only as "heirs" or "next of kin" of the
settlor, or using other words that describe the class of all persons
who would take under the rules of intestacy, the court may limit the
class of beneficiaries whose consent is needed to compel the
modification or termination of the trust to the beneficiaries who are
reasonably likely to take under the circumstances.
15405. For the purposes of Sections 15403 and 15404, the consent of
a beneficiary who lacks legal capacity, including a minor, or who is
an unascertained or unborn person may be given in proceedings before
the court by a guardian ad litem, if it would be appropriate to do
so. In determining whether to give consent, the guardian ad litem may
rely on general family benefit accruing to living members of the
beneficiary's family as a basis for approving a modification or
termination of the trust.
15406. In determining the class of beneficiaries whose consent is
necessary to modify or terminate a trust pursuant to Section 15403 or
15404, the presumption of fertility is rebuttable.
15407. (a) A trust terminates when any of the following occurs:
(1) The term of the trust expires.
(2) The trust purpose is fulfilled.
(3) The trust purpose becomes unlawful.
(4) The trust purpose becomes impossible to fulfill.
(5) The trust is revoked.
(b) On termination of the trust, the trustee continues to have the
powers reasonably necessary under the circumstances to wind up the
affairs of the trust.
15408. (a) On petition by a trustee or beneficiary, if the court
determines that the fair market value of the principal of a trust has
become so low in relation to the cost of administration that
continuation of the trust under its existing terms will defeat or
substantially impair the accomplishment of its purposes, the court
may, in its discretion and in a manner that conforms as nearly as
possible to the intention of the settlor, order any of the following:
(1) Termination of the trust.
(2) Modification of the trust.
(3) Appointment of a new trustee.
(b) Notwithstanding subdivision (a), if the trust principal does
not exceed forty thousand dollars ($40,000) in value, the trustee has
the power to terminate the trust.
(c) The existence of a trust provision restraining transfer of the
beneficiary's interest does not prevent application of this section.
15409. (a) On petition by a trustee or beneficiary, the court may
modify the administrative or dispositive provisions of the trust or
terminate the trust if, owing to circumstances not known to the
settlor and not anticipated by the settlor, the continuation of the
trust under its terms would defeat or substantially impair the
accomplishment of the purposes of the trust. In this case, if
necessary to carry out the purposes of the trust, the court may order
the trustee to do acts that are not authorized or are forbidden by
the trust instrument.
(b) The court shall consider a trust provision restraining
transfer of the beneficiary's interest as a factor in making its
decision whether to modify or terminate the trust, but the court is
not precluded from exercising its discretion to modify or terminate
the trust solely because of a restraint on transfer.
15410. At the termination of a trust, the trust property shall be
disposed of as follows:
(a) In the case of a trust that is revoked by the settlor, as
directed by the settlor.
(b) In the case of a trust that is terminated by the consent of
the settlor and all beneficiaries, as agreed by the settlor and all
beneficiaries.
(c) In any other case, as provided in the trust instrument or in a
manner directed by the court that conforms as nearly as possible to
the intention of the settlor as expressed in the trust instrument.
(d) If a trust is terminated by the trustee pursuant to
subdivision (b) of Section 15408, the trust property may be
distributed as determined by the trustee pursuant to the standard
provided in subdivision (c) without the need for a court order. Where
the trust instrument does not provide a manner of distribution at
termination and the settlor's intent is not adequately expressed in
the trust instrument, the trustee may distribute the trust property
to the living beneficiaries on an actuarial basis.
15411. If the terms of two or more trusts are substantially
similar, on petition by a trustee or beneficiary, the court, for good
cause shown, may combine the trusts if the court determines that
administration as a single trust will not defeat or substantially
impair the accomplishment of the trust purposes or the interests of
the beneficiaries.
15412. On petition by a trustee or beneficiary, the court, for good
cause shown, may divide a trust into two or more separate trusts, if
the court determines that dividing the trust will not defeat or
substantially impair the accomplishment of the trust purposes or the
interests of the beneficiaries.
15413. A trust provision, express or implied, that the trust may
not be terminated is ineffective insofar as it purports to be
applicable after the expiration of the longer of the periods provided
by the statutory rule against perpetuities, Article 2 (commencing
with Section 21205) of Chapter 1 of Part 2 of Division 11.
15414. Notwithstanding any other provision in this chapter, if a
trust continues in existence after the expiration of the longer of
the periods provided by the statutory rule against perpetuities,
Article 2 (commencing with Section 21205) of Chapter 1 of Part 2 of
Division 11, the trust may be terminated in either of the following
manners:
(a) On petition by a majority of the beneficiaries.
(b) On petition by the Attorney General or by any person who would
be affected by the termination, if the court finds that the
termination would be in the public interest or in the best interest
of a majority of the persons who would be affected by the
termination.
15400. Unless a trust is expressly made irrevocable by the trust
instrument, the trust is revocable by the settlor. This section
applies only where the settlor is domiciled in this state when the
trust is created, where the trust instrument is executed in this
state, or where the trust instrument provides that the law of this
state governs the trust.
15401. (a) A trust that is revocable by the settlor may be revoked
in whole or in part by any of the following methods:
(1) By compliance with any method of revocation provided in the
trust instrument.
(2) By a writing (other than a will) signed by the settlor and
delivered to the trustee during the lifetime of the settlor. If the
trust instrument explicitly makes the method of revocation provided
in the trust instrument the exclusive method of revocation, the trust
may not be revoked pursuant to this paragraph.
(b) Unless otherwise provided in the instrument, if a trust is
created by more than one settlor, each settlor may revoke the trust
as to the portion of the trust contributed by that settlor, except as
provided in Section 761 of the Family Code.
(c) A trust may not be modified or revoked by an attorney in fact
under a power of attorney unless it is expressly permitted by the
trust instrument.
(d) Nothing in this section limits the authority to modify or
terminate a trust pursuant to Section 15403 or 15404 in an
appropriate case.
(e) The manner of revocation of a trust revocable by the settlor
that was created by an instrument executed before July 1, 1987, is
governed by prior law and not by this section.
15402. Unless the trust instrument provides otherwise, if a trust
is revocable by the settlor, the settlor may modify the trust by the
procedure for revocation.
15403. (a) Except as provided in subdivision (b), if all
beneficiaries of an irrevocable trust consent, they may compel
modification or termination of the trust upon petition to the court.
(b) If the continuance of the trust is necessary to carry out a
material purpose of the trust, the trust cannot be modified or
terminated unless the court, in its discretion, determines that the
reason for doing so under the circumstances outweighs the interest in
accomplishing a material purpose of the trust. Under this section
the court does not have discretion to permit termination of a trust
that is subject to a valid restraint on transfer of the beneficiary's
interest as provided in Chapter 2 (commencing with Section 15300).
15404. (a) If the settlor and all beneficiaries of a trust consent,
they may compel the modification or termination of the trust.
(b) If any beneficiary does not consent to the modification or
termination of the trust, upon petition to the court, the other
beneficiaries, with the consent of the settlor, may compel a
modification or a partial termination of the trust if the interests
of the beneficiaries who do not consent are not substantially
impaired.
(c) If the trust provides for the disposition of principal to a
class of persons described only as "heirs" or "next of kin" of the
settlor, or using other words that describe the class of all persons
who would take under the rules of intestacy, the court may limit the
class of beneficiaries whose consent is needed to compel the
modification or termination of the trust to the beneficiaries who are
reasonably likely to take under the circumstances.
15405. For the purposes of Sections 15403 and 15404, the consent of
a beneficiary who lacks legal capacity, including a minor, or who is
an unascertained or unborn person may be given in proceedings before
the court by a guardian ad litem, if it would be appropriate to do
so. In determining whether to give consent, the guardian ad litem may
rely on general family benefit accruing to living members of the
beneficiary's family as a basis for approving a modification or
termination of the trust.
15406. In determining the class of beneficiaries whose consent is
necessary to modify or terminate a trust pursuant to Section 15403 or
15404, the presumption of fertility is rebuttable.
15407. (a) A trust terminates when any of the following occurs:
(1) The term of the trust expires.
(2) The trust purpose is fulfilled.
(3) The trust purpose becomes unlawful.
(4) The trust purpose becomes impossible to fulfill.
(5) The trust is revoked.
(b) On termination of the trust, the trustee continues to have the
powers reasonably necessary under the circumstances to wind up the
affairs of the trust.
15408. (a) On petition by a trustee or beneficiary, if the court
determines that the fair market value of the principal of a trust has
become so low in relation to the cost of administration that
continuation of the trust under its existing terms will defeat or
substantially impair the accomplishment of its purposes, the court
may, in its discretion and in a manner that conforms as nearly as
possible to the intention of the settlor, order any of the following:
(1) Termination of the trust.
(2) Modification of the trust.
(3) Appointment of a new trustee.
(b) Notwithstanding subdivision (a), if the trust principal does
not exceed forty thousand dollars ($40,000) in value, the trustee has
the power to terminate the trust.
(c) The existence of a trust provision restraining transfer of the
beneficiary's interest does not prevent application of this section.
15409. (a) On petition by a trustee or beneficiary, the court may
modify the administrative or dispositive provisions of the trust or
terminate the trust if, owing to circumstances not known to the
settlor and not anticipated by the settlor, the continuation of the
trust under its terms would defeat or substantially impair the
accomplishment of the purposes of the trust. In this case, if
necessary to carry out the purposes of the trust, the court may order
the trustee to do acts that are not authorized or are forbidden by
the trust instrument.
(b) The court shall consider a trust provision restraining
transfer of the beneficiary's interest as a factor in making its
decision whether to modify or terminate the trust, but the court is
not precluded from exercising its discretion to modify or terminate
the trust solely because of a restraint on transfer.
15410. At the termination of a trust, the trust property shall be
disposed of as follows:
(a) In the case of a trust that is revoked by the settlor, as
directed by the settlor.
(b) In the case of a trust that is terminated by the consent of
the settlor and all beneficiaries, as agreed by the settlor and all
beneficiaries.
(c) In any other case, as provided in the trust instrument or in a
manner directed by the court that conforms as nearly as possible to
the intention of the settlor as expressed in the trust instrument.
(d) If a trust is terminated by the trustee pursuant to
subdivision (b) of Section 15408, the trust property may be
distributed as determined by the trustee pursuant to the standard
provided in subdivision (c) without the need for a court order. Where
the trust instrument does not provide a manner of distribution at
termination and the settlor's intent is not adequately expressed in
the trust instrument, the trustee may distribute the trust property
to the living beneficiaries on an actuarial basis.
15411. If the terms of two or more trusts are substantially
similar, on petition by a trustee or beneficiary, the court, for good
cause shown, may combine the trusts if the court determines that
administration as a single trust will not defeat or substantially
impair the accomplishment of the trust purposes or the interests of
the beneficiaries.
15412. On petition by a trustee or beneficiary, the court, for good
cause shown, may divide a trust into two or more separate trusts, if
the court determines that dividing the trust will not defeat or
substantially impair the accomplishment of the trust purposes or the
interests of the beneficiaries.
15413. A trust provision, express or implied, that the trust may
not be terminated is ineffective insofar as it purports to be
applicable after the expiration of the longer of the periods provided
by the statutory rule against perpetuities, Article 2 (commencing
with Section 21205) of Chapter 1 of Part 2 of Division 11.
15414. Notwithstanding any other provision in this chapter, if a
trust continues in existence after the expiration of the longer of
the periods provided by the statutory rule against perpetuities,
Article 2 (commencing with Section 21205) of Chapter 1 of Part 2 of
Division 11, the trust may be terminated in either of the following
manners:
(a) On petition by a majority of the beneficiaries.
(b) On petition by the Attorney General or by any person who would
be affected by the termination, if the court finds that the
termination would be in the public interest or in the best interest
of a majority of the persons who would be affected by the
termination.
