§ 59-12-11 — (411) Modification or termination of noncharitable irrevocable trust by consent

North Dakota § 59-12-11

• Jurisdiction: North Dakota
• Title 59: Trusts, Uses, and Powers
• Ch. 59-12: Creation, Validity, Modification, and Termination of Trust

Text

consent.
1. A noncharitable irrevocable trust may be terminated upon 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 upon consent of all of the beneficiaries if the court concludes that
modification is not inconsistent with a material purpose of the trust. An irrevocable trust
that is modified under this subsection continues to be irrevocable.

2. Upon termination of a trust under subsection 1, the trustee shall distribute the trust
property as agreed by the beneficiaries.
3. If not all of the beneficiaries consent to a proposed modification or termination of the
trust under subsection 1, the modification or termination may be approved by the court
if the court is satisfied that if all of the beneficiaries had consented, the trust could
have been modified or terminated under this section and the interests of a beneficiary
who does not consent will be adequately protected.