§ 30-4-3-24.4 — Modification or termination of trust by court

Indiana § 30-4-3-24.4

• Jurisdiction: Indiana
• Art. 4: TRUST CODE
• Ch. 3: Rules Governing the Rights, Powers, Duties, Liabilities,

Text

4. (a) The court may modify the
administrative or dispositive terms of a trust if, because of
circumstances not anticipated by the settlor, modification or
termination will further the purposes of the trust. To the extent
practicable, the modification must be made in accordance with the
settlor's probable intention.
(b) The court may modify the administrative terms of a trust or
terminate the trust if:
(1) the purpose of the trust has been fulfilled; or
(2) continuation of the trust on the trust's existing terms would:
(A) be illegal, impossible, impracticable, or wasteful; or
(B) impair the trust's administration.
(c) If the trust terminates under this section, the court shall direct the
trustee to distribute the trust property in a manner consistent with the
purposes of the trust.
(d) The court may modify the terms of a trust to give the settlor the
power to revoke and modify the trust if the:
(1) settlor intended to reserve the power;
(2) settlor believed the power was reserved; and
(3) power was omitted from the terms of the trust by mistake.

Legislative History

As added by P.L.238-2005, SEC.35.