Section 456.4-417 – Combination and division of trusts.
Effective – 01 Jan 2005 456.4-417. Combination and division of trusts. — After notice to the qualified beneficiaries, a trustee may combine two or more trusts into a single trust or divide a trust into two or more separate trusts, if the result does not impair rights of any beneficiary or adversely affect achievement of […]
Section 456.4-418 – Distribution of trust income or principal to qualified remainder beneficiary, when — applicability to irrevocable trust, when.
Effective – 28 Aug 2009 456.4-418. Distribution of trust income or principal to qualified remainder beneficiary, when — applicability to irrevocable trust, when. — 1. During any period of time that this section applies to an irrevocable trust, the trustee shall have the authority in its discretion to distribute trust income or principal to a […]
Section 456.4-419 – Distributions of income and principal of first trusts and second trusts, discretionary power of trustee — notice requirements.
Effective – 28 Aug 2022, 2 histories 456.4-419. Distributions of income and principal of first trusts and second trusts, discretionary power of trustee — notice requirements. — 1. Unless the terms of the trust instrument expressly provide otherwise, a trustee, other than a settlor, who has discretionary power under the terms of a trust to […]
Section 456.4-420 – No-contest clause, claims for relief.
Effective – 28 Aug 2014 456.4-420. No-contest clause, claims for relief. — 1. If a trust instrument containing a no-contest clause is or has become irrevocable, an interested person may file a petition to the court for an interlocutory determination whether a particular motion, petition, or other claim for relief by the interested person would […]
Section 456.4-413 – Cy pres.
Effective – 01 Jan 2005 456.4-413. Cy pres. — 1. Except as otherwise provided in subsection 2 of this section, if a particular charitable purpose becomes unlawful, impracticable, impossible to achieve, or wasteful: (1) the trust does not fail, in whole or in part; (2) the trust property does not revert to the settlor or […]
Section 456.4-414 – Modification or termination of uneconomic trust.
Effective – 28 Aug 2018, 2 histories 456.4-414. Modification or termination of uneconomic trust. — 1. After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than two hundred fifty thousand dollars may terminate the trust if the trustee concludes that the value of the […]
Section 456.4-415 – Reformation to correct mistakes.
Effective – 01 Jan 2005 456.4-415. Reformation to correct mistakes. — The court may reform the terms of a trust, even if unambiguous, to conform the terms to the settlor’s intention if it is proved by clear and convincing evidence that both the settlor’s intent and the terms of the trust were affected by a […]
Section 456.4-416 – Modification to achieve settlor’s tax objectives.
Effective – 01 Jan 2005 456.4-416. Modification to achieve settlor’s tax objectives. — To achieve the settlor’s tax objectives, the court may modify the terms of a trust in a manner that is not contrary to the settlor’s probable intention. The court may provide that the modification has retroactive effect. ——– (L. 2004 H.B. 1511) […]
Section 456.4-408 – Trust for care of animal.
Effective – 01 Jan 2005 456.4-408. Trust for care of animal. — 1. A trust may be created to provide for the care of an animal alive during the settlor’s lifetime. The trust terminates upon the death of the animal or, if the trust was created to provide for the care of more than one […]
Section 456.4-409 – Noncharitable trust without ascertainable beneficiary.
Effective – 01 Jan 2005 456.4-409. Noncharitable trust without ascertainable beneficiary. — Except as otherwise provided in section 456.4-408 or by another statute, the following rules apply: (1) A trust may be created for a noncharitable purpose without a definite or definitely ascertainable beneficiary or for a noncharitable but otherwise valid purpose to be selected […]