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§ 14.5-411. Modification or termination of trust in furtherance of purposes of trust

West's Annotated Code of MarylandEstates and TrustsEffective: January 1, 2015

West's Annotated Code of Maryland
Estates and Trusts (Refs & Annos)
Title 14.5. Maryland Trust Act (Refs & Annos)
Subtitle 4. Creation, Validity, Modification, and Termination of Trust (Refs & Annos)
Effective: January 1, 2015
MD Code, Estates and Trusts, § 14.5-411
§ 14.5-411. Modification or termination of trust in furtherance of purposes of trust
In general
(a)(1) The 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.
(2) To the extent practicable, the modification described in paragraph (1) of this subsection shall be made in accordance with the probable intention of the settlor.
Terms impracticable, wasteful, or impairment of administration
(b) The 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 administration of the trust.
Distribution of trust property
(c) On termination of a trust under subsection (a) of this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust as ordered by the court.

Credits

Added by Acts 2014, c. 585, § 1, eff. Jan. 1, 2015.
MD Code, Estates and Trusts, § 14.5-411, MD EST & TRST § 14.5-411
Current through legislation effective July 1, 2020, from the 2020 Regular Session of the General Assembly.
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