Montana Statutes
§ 72-38-414 — Modification Or Termination Of Uneconomic Trust
Montana·Title 72 ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS·Ch. 38 MONTANA UNIFORM TRUST CODE·Part 4 Creation, Validity, Modification, and Termination of Trust
72-38-414 . Modification or termination of uneconomic trust.
(1)After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than $100,000 may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration.
(2)The court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of administration.
(3)Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.
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Montana § 72-38-414 (Modification Or Termination Of Uneconomic Trust) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 63, Ch. 264, L. 2013.
Nearby Sections
15
§ 72-38-1001
Remedies For Breach Of Trust§ 72-38-1002
Damages For Breach Of Trust§ 72-38-1003
Damages In Absence Of Breach§ 72-38-1004
Attorney Fees And Costs§ 72-38-1005
Limitation Of Action Against Trustee§ 72-38-1006
Reliance On Trust Instrument§ 72-38-1007
Event Affecting Administration Or Distribution§ 72-38-1008
Exculpation Of Trustee§ 72-38-1009
Beneficiary's Consent, Release, Or Ratification§ 72-38-101
Short Title§ 72-38-1010
Limitation On Personal Liability Of Trustee§ 72-38-1011
Interest As General Partner§ 72-38-1012
Protection Of Person Dealing With Trustee§ 72-38-1013
Certification Of Trust§ 72-38-102
Scope