55-1-21.2. Judicial reduction of property transferred to trustee if trust corpus exceeds amount required for intended purposes.
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/sd/title-55/chapter-55-1/55-1-21-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A court may reasonably reduce the amount of the property transferred to the trustee of a purpose trust if the court determines that the trust corpus substantially exceeds the amount required for the intended purposes. The court should consider allowing the trust to be administered for a reasonable period of time before undertaking a determination. The amount of the reduction, if any, passes as unexpended trust property, as set forth in § 55-1-21.8 .