55-544.12 - Modification or termination because of unanticipated circumstances or inability to administer trust effectively. - Virginia Statutes

§ 55-544.12. Modification or termination because of unanticipatedcircumstances or inability to administer trust effectively.

A. The court may modify the administrative or dispositive terms of a trust orterminate the trust if, because of circumstances not anticipated by thesettlor, modification or termination will further the purposes of the trust.To the extent practicable, the modification shall be made in accordance withthe settlor's probable intention.

B. The court may modify the administrative terms of a trust if continuationof the trust on its existing terms would be impracticable or wasteful orimpair the trust's administration.

C. Upon termination of a trust under this section, the trustee shalldistribute the trust property in a manner consistent with the purposes of thetrust.

(2005, c. 935.)