Probate Code §15412 states:
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 dividing the trust will not defeat or substantially impair the accomplishment of the trust purposes or the interests of the beneficiaries.
This provision provides a standard intended to protect the interests of beneficiaries without necessarily requiring their consent.
Division of a trust may be appropriate, for example, in a situation where different members of a family desire their own separate trusts because of a disagreement or where a beneficiary has moved to a different part of the country. [Law Revision Commission Comments to Prob. Code, § 15412]
The requested "division" of this trust is at its most basic definition a division, but what it really is, is a request for a "modification" of the trust.
Discuss mediation.
__________________
As COVID-19 cases continue to rise, we need to be even more vigi
Hearing Date
January 20, 2021
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Probate Code §15412 states:
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 dividing the trust will not defeat or substantially impair the accomplishment of the trust purposes or the interests of the beneficiaries.
This provision provides a standard intended to protect the interests of beneficiaries without necessarily requiring their consent.
Division of a trust may be appropriate, for example, in a situation where different members of a family desire their own separate trusts because of a disagreement or where a beneficiary has moved to a different part of the country. [Law Revision Commission Comments to Prob. Code, § 15412]
The requested "division" of this trust is at its most basic definition a division, but what it really is, is a request for a "modification" of the trust.
Discuss mediation.
__________________
As COVID-19 cases continue to rise, we need to be even more vigi