(a) Beneficiary defined.- In this section, "beneficiary" means a person in being who has a vested interest, whether:
(1) Possessory or not; and
(2) Subject to divestment or not.
(b) In general.-
(1) Subject to the provisions of paragraph (2) of this subsection, on petition by a trustee, personal representative, beneficiary, or a party in interest, after notice as the court may direct to the trustees, personal representatives, beneficiaries, and parties in interest, and for good cause shown, a court may:
(i) Divide a trust into 2 or more separate trusts; or
(ii) Consolidate 2 or more trusts into a single trust.
(2) A court may divide a trust or consolidate trusts:
(i) On terms and conditions as the court considers appropriate; and
(ii) If the court is satisfied that a division of a trust or consolidation of trusts will not defeat or materially impair:
1. The accomplishment of trust purposes; or
2. The interests of the beneficiaries.
(3) A court may pass orders that the court considers proper or necessary to protect the interests of a:
(i) Trustee;
(ii) Personal representative;
(iii) Beneficiary; or
(iv) Party in interest.
(c) Applicability.- This section applies to trusts:
(1) Whenever created;
(2) Whether inter vivos or testamentary;
(3) Created by the same or different instruments;
(4) Created by the same or different persons; and
(5) Regardless of where created or administered.
(d) Construction.- This section may not be construed to limit the right of a trustee or personal representative to divide a trust or consolidate trusts, without an order of a court, in accordance with the applicable provisions of the governing instrument.
(a) Beneficiary defined.- In this section, "beneficiary" means a person in being who has a vested interest, whether:
(1) Possessory or not; and
(2) Subject to divestment or not.
(b) In general.-
(1) Subject to the provisions of paragraph (2) of this subsection, on petition by a trustee, personal representative, beneficiary, or a party in interest, after notice as the court may direct to the trustees, personal representatives, beneficiaries, and parties in interest, and for good cause shown, a court may:
(i) Divide a trust into 2 or more separate trusts; or
(ii) Consolidate 2 or more trusts into a single trust.
(2) A court may divide a trust or consolidate trusts:
(i) On terms and conditions as the court considers appropriate; and
(ii) If the court is satisfied that a division of a trust or consolidation of trusts will not defeat or materially impair:
1. The accomplishment of trust purposes; or
2. The interests of the beneficiaries.
(3) A court may pass orders that the court considers proper or necessary to protect the interests of a:
(i) Trustee;
(ii) Personal representative;
(iii) Beneficiary; or
(iv) Party in interest.
(c) Applicability.- This section applies to trusts:
(1) Whenever created;
(2) Whether inter vivos or testamentary;
(3) Created by the same or different instruments;
(4) Created by the same or different persons; and
(5) Regardless of where created or administered.
(d) Construction.- This section may not be construed to limit the right of a trustee or personal representative to divide a trust or consolidate trusts, without an order of a court, in accordance with the applicable provisions of the governing instrument.
(a) Beneficiary defined.- In this section, "beneficiary" means a person in being who has a vested interest, whether:
(1) Possessory or not; and
(2) Subject to divestment or not.
(b) In general.-
(1) Subject to the provisions of paragraph (2) of this subsection, on petition by a trustee, personal representative, beneficiary, or a party in interest, after notice as the court may direct to the trustees, personal representatives, beneficiaries, and parties in interest, and for good cause shown, a court may:
(i) Divide a trust into 2 or more separate trusts; or
(ii) Consolidate 2 or more trusts into a single trust.
(2) A court may divide a trust or consolidate trusts:
(i) On terms and conditions as the court considers appropriate; and
(ii) If the court is satisfied that a division of a trust or consolidation of trusts will not defeat or materially impair:
1. The accomplishment of trust purposes; or
2. The interests of the beneficiaries.
(3) A court may pass orders that the court considers proper or necessary to protect the interests of a:
(i) Trustee;
(ii) Personal representative;
(iii) Beneficiary; or
(iv) Party in interest.
(c) Applicability.- This section applies to trusts:
(1) Whenever created;
(2) Whether inter vivos or testamentary;
(3) Created by the same or different instruments;
(4) Created by the same or different persons; and
(5) Regardless of where created or administered.
(d) Construction.- This section may not be construed to limit the right of a trustee or personal representative to divide a trust or consolidate trusts, without an order of a court, in accordance with the applicable provisions of the governing instrument.
