Vermont § 412 Modification or termination because of unanticipated circumstances or inability to administer trust effectively

Vermont Statutes

§ 412 — Modification or termination because of unanticipated circumstances or inability to administer trust effectively

Vermont·Title 14A Title 14A: Trusts·Ch. 4 Chapter 004: Creation, Validity, Modification, and Termination of Trust

(a)The Probate Division of the Superior Court may modify the administrative or dispositive terms of a trust or terminate the 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 Probate Division of the Superior Court may modify the administrative terms of a trust if continuation of the trust on its existing terms would be impracticable or wasteful or impair the trust’s administration.

(c)Upon termination of a trust under this section, the trustee shall distribute the trust property as directed by the Probate Division of the Superior Court or otherwise in a manner consistent with the purposes

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(a) The Probate Division of the Superior Court may modify the administrative or dispositive terms of a trust or terminate the 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 Probate Division of the Superior Court may modify the administrative terms of a trust if continuation of the trust on its existing terms would be impracticable or wasteful or impair the trust’s administration.
(c) Upon termination of a trust under this section, the trustee shall distribute the trust property as directed by the Probate Division of the Superior Court or otherwise in a manner consistent with the purposes of the trust. (Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj. Sess.), § 236, eff. Feb. 1, 2011.)

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