Sec. 45a-499ff. Modification or termination because of unanticipated circumstances or inability to administer trust effectively.
242 words·~1 min read·
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(a)The court may modify the administrative or dispositive terms of a trust, subject to sections 45a-499gg and 45a-499hh , or terminate a noncharitable 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 shall be made in accordance with the settlor's probable intention.
(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 trust's administration.
(c)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 as directed by the court.
(d)In this section, “circumstances not anticipated by the settlor” does not include a change in the corporate identity of a trustee.
(e)Notwithstanding the provisions of this section, the court may not terminate an irrevocable trust established pursuant to 42 USC 1396p(d)(4)(A) or (C), as amended from time to time. The court may modify the terms of such a trust to ensure compliance with the requirements of federal law or to modify any individual's contingent beneficial interest that is available only after repayment to this state or another state for
(1)medical assistance provided; and
(2)all claims for which this state would have claims against the estate of the deceased beneficiary that have not previously been paid or reimbursed.