CHAPTER 3. Modification and Termination of Trusts [15400. - 15414.]
Chapter 3 enacted by Stats. 1990, Ch. 79.
§§ 15400–15414 · 15 sections
- § 15400 Unless a trust is expressly made irrevocable by the trust instrument, the trust is revocable by the settlor. This section applies only where the settlor is…
- § 15401 (a) A trust that is revocable by the settlor or any other person may be revoked in whole or in part by any of the following methods: (1) By compliance with any…
- § 15402 Unless the trust instrument provides otherwise, if a trust is revocable by the settlor, the settlor may modify the trust by the procedure for revocation.
- § 15403 (a) Except as provided in subdivision (b), if all beneficiaries of an irrevocable trust consent, they may petition the court for modification or termination of…
- § 15404 (a) A trust may be modified or terminated by the written consent of the settlor and all beneficiaries without court approval of the modification or…
- § 15405 For the purposes of Sections 15403 and 15404, the consent of a beneficiary who lacks legal capacity, including a minor, or who is an unascertained or unborn…
- § 15406 In determining the class of beneficiaries whose consent is necessary to modify or terminate a trust pursuant to Section 15403 or 15404, the presumption of…
- § 15407 (a) A trust terminates when any of the following occurs: (1) The term of the trust expires. (2) The trust purpose is fulfilled. (3) The trust purpose becomes…
- § 15408 (a) On petition by a trustee or beneficiary, if the court determines that the fair market value of the principal of a trust has become so low in relation to…
- § 15409 (a) On petition by a trustee or beneficiary, the court may modify the administrative or dispositive provisions of the trust or terminate the trust if, owing to…
- § 15410 At the termination of a trust, the trust property shall be disposed of as follows: (a) In the case of a trust that is revoked by the settlor, the trust…
- § 15411 If the terms of two or more trusts are substantially similar, on petition by a trustee or beneficiary, the court, for good cause shown, may combine the trusts…
- § 15412 On petition by a trustee or beneficiary, the court, for good cause shown, may divide a trust into two or more separate trusts, if the court determines that…
- § 15413 A trust provision, express or implied, that the trust may not be terminated is ineffective insofar as it purports to be applicable after the expiration of the…
- § 15414 Notwithstanding any other provision in this chapter, if a trust continues in existence after the expiration of the longer of the periods provided by the…