Massachusetts General Laws ch. 203E sec. 417 – Combination and division of trusts
Current as of: 2023 | Check for updates
|
Other versions
Section 417. Combination and division of trusts
Terms Used In Massachusetts General Laws ch. 203E sec. 417
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Trustee: A person or institution holding and administering property in trust.
After notice to the qualified beneficiaries, a trustee may combine 2 or more trusts into a single trust or divide a trust into 2 or more separate trusts, if the result does not impair the rights of any beneficiary or adversely affect achievement of the purposes of the trusts.
{HG4}ARTICLE 5 {HG4C}CREDITOR’S CLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS