Printable Format58a-410. Modification or termination of trust; proceedings for approval or disapproval. (a) In addition to the methods of termination prescribed by K.S.A. 58a-411 through 58a-414, and amendments thereto, a trust terminates to the extent the trust is revoked or expires pursuant to its terms, no purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful, contrary to public policy, or impossible to achieve.
(b) A proceeding to approve or disapprove a proposed modification or termination under K.S.A. 58a-411 through 58a-416, and amendments thereto, or trust combination or division under K.S.A. 58a-417, and amendments thereto, may be commenced by a trustee or qualified beneficiary, and a proceeding to approve or disapprove a proposed modification or termination under K.S.A. 58a-411, and amendments thereto, may be commenced by the settlor. The settlor of a charitable trust may maintain a proceeding to modify the trust under K.S.A. 58a-413, and amendments thereto.
History: L. 2002, ch. 133, ยง 31; January 1, 2003.
Law Review and Bar Journal References:
"The Kansas Uniform Trust Code," David M. English, 51 K.L.R. 311 (2003).
CASE ANNOTATIONS
1. Kansas Uniform Trust Code applies to testamentary trust written before code was enacted; court can modify spendthrift trust to make partial distribution to remainder beneficiary. In re Estate of Somers, 277 K. 761, 89 P.3d 898 (2004).
2. Upon vesting of trust property in remainder beneficiaries, spendthrift clause no longer effective. In Re Hilgers, 352 B.R. 298, 306 (Bkrtcy D. Kan. 2006).
3. Cited; trust was to be distributed after death of last life beneficiary and trust then terminated. In re Hilgers, 371 B.R. 465, 469 (2007).
4. Action by executor to seek constructive trust on assets wrongfully transferred. Estate of Draper v. Bank of America, 288 K. 510, 205 P.3d 698 (2009).