(1) The court may modify the administrative or dispositive terms of a trust or terminate the trust if modification or termination will further the purposes of the trust and the modification or termination is requested by reason of circumstances not anticipated by the settlor. To the extent practicable, the modification must be made in accordance with the settlor’s probable intention.
(2) The court may modify the administrative terms of a trust if continuation of the trust on its existing terms would be impracticable or wasteful, or would impair the trust’s administration.
(3) A trustee may terminate a trust if:
(a) Termination is appropriate by reason of circumstances not anticipated by the settlor;
(b) Termination will not be inconsistent with the material purposes of the trust;
(c) All qualified beneficiaries have consented to the termination;
(d) The trustee is not a beneficiary of the trust and has no duty of support for any beneficiary of the trust; and
(e) In the case of a charitable trust, the Attorney General has consented to the termination, or contingencies have made the charitable interest negligible.
(4) 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. [2005 c.348 §32; 2007 c.515 §1]
Note: Section 4, chapter 515, Oregon Laws 2007, provides:
Sec. 4. The amendments to ORS 130.205, 130.655 and 130.725 by sections 1 to 3 of this 2007 Act apply to all trusts, whether created before, on or after the effective date of this 2007 Act [January 1, 2008]. [2007 c.515 §4]
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