§ 18-4-25. Consolidation or division of trusts.
(a) Upon petition by a trustee, beneficiary, or any party in interest and for good cause
shown, the court, after notice to all parties in interest and a hearing, may order
the division of a trust into two (2) or more single trusts, or consolidate two (2)
or more trusts which have either a common creator or common beneficiaries into a single
trust, upon terms and conditions that it deems appropriate; provided, that it is satisfied
that:
(1) Consolidation or division is not inconsistent with the intent of the creator of the
trust with regard to any
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§ 18-4-25. Consolidation or division of trusts.
(a) Upon petition by a trustee, beneficiary, or any party in interest and for good cause
shown, the court, after notice to all parties in interest and a hearing, may order
the division of a trust into two (2) or more single trusts, or consolidate two (2)
or more trusts which have either a common creator or common beneficiaries into a single
trust, upon terms and conditions that it deems appropriate; provided, that it is satisfied
that:
(1) Consolidation or division is not inconsistent with the intent of the creator of the
trust with regard to any trust to be consolidated or divided; and
(2) Consolidation or division would be in the best interest of the beneficiaries as a
whole, taking into account tax, legal, administrative, and/or other considerations
and would not materially impair the respective interests of the beneficiaries as a
whole.
(b) This section shall apply to all trusts whenever created, whether inter vivos or testamentary,
whether created by the same or different instruments, whether created by the same
or different persons, and regardless of where created or administered.
(c) This section shall not limit the right of a trustee, acting in accordance with the
applicable provisions of the governing instrument, to divide or consolidate trusts.