(a) After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than $50,000 may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration.
(b) The court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of administration.
(c) 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.
(d) This section does not apply to an easement for conservation or preservation.
(Mar. 10, 2004, D.C. Law 15-104, § 2(b), 51 DCR 208.)
Uniform Law: This section is based upon § 414 of the Uniform Trust Code.
Structure District of Columbia Code
Title 19 - Descent, Distribution, and Trusts. [Enacted title]
Chapter 13 - Uniform Trust Code
Subchapter IV - Creation, Validity, Modification, and Termination of Trust
§ 19–1304.01. Methods of creating trust
§ 19–1304.02. Requirements for creation
§ 19–1304.03. Trusts created in other jurisdictions
§ 19–1304.05. Charitable purposes; enforcement
§ 19–1304.06. Creation of trust induced by fraud, duress, or undue influence
§ 19–1304.07. Evidence of oral trust
§ 19–1304.08. Trust for care of animal
§ 19–1304.09. Noncharitable trust without ascertainable beneficiary
§ 19–1304.10. Modification or termination of trust; proceedings for approval or disapproval
§ 19–1304.11. Modification or termination of noncharitable irrevocable trust by consent
§ 19–1304.14. Termination of uneconomic trust
§ 19–1304.15. Reformation to correct mistakes
§ 19–1304.16. Modification to achieve settlor’s tax objectives