(a) After notice to the qualified beneficiaries, the trustee of a trust consisting of a noncharitable trust property having a total value less than $200,000 may terminate the trust, without the necessity of court approval, 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.
Structure West Virginia Code
Chapter 44D. Uniform Trust Code
Article 4. Creation, Validity, Modification and Termination of Trust
§44D-4-401. Methods of Creating Trust
§44D-4-402. Requirement for Creation
§44D-4-403. Trusts Created in Other Jurisdictions
§44D-4-405. Charitable Purposes; Enforcement
§44D-4-406. Creation of Trust Induced by Fraud, Duress or Undue Influence
§44D-4-407. Oral Trusts Unenforceable
§44D-4-408. Trust for Care of Animal
§44D-4-409. Noncharitable Trust Without Ascertainable Beneficiary
§44D-4-410. Modification or Termination of Trust; Proceedings for Approval or Disapproval
§44D-4-411. Modification or Termination of Noncharitable Irrevocable Trust by Consent
§44D-4-414. Modification or Termination of Uneconomic Trust
§44D-4-415. Reformation to Correct Mistakes
§44D-4-416. Modification to Achieve Grantor's Tax Objectives