3B:31-26 Modification or termination of trust; proceedings for approval or disapproval.
3B:31-26. Modification or Termination of Trust; Proceedings for Approval or Disapproval.
a.In addition to the methods of termination prescribed by N.J.S.3B:31-27 through N.J.S.3B:31-33, 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 of this State, or impossible to achieve.
b.A proceeding to approve or disapprove a proposed modification or termination under N.J.S.3B:31-27 through N.J.S.3B:31-33, or trust combination or division under N.J.S.3B:31-34, may be commenced by a trustee or beneficiary. The settlor of a charitable trust may maintain a proceeding to modify the trust under N.J.S.3B:31-29.
L.2015, c.276, s.1.
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Last modified: October 11, 2016