- A. After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than Fifty Thousand Dollars ($50,000.00) may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration.
- B. The court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of 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.
- D. This section does not apply to an easement for conservation or preservation.
Laws 2025, HB 1850, c. 254, § 32, eff. November 1, 2025.