Connecticut General Statutes 45a-499ll – Combination and division of trusts
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(a) After thirty days’ notice to the qualified beneficiaries, the trustee of an inter vivos trust may combine two or more trusts into a single trust or divide a trust into two or more separate trusts, if the result does not impair rights of a beneficiary or adversely affect achievement of the purposes of the trust.
Terms Used In Connecticut General Statutes 45a-499ll
- another: may extend and be applied to communities, companies, corporations, public or private, limited liability companies, societies and associations. See Connecticut General Statutes 1-1
- 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
- Beneficiary: means a person that (A) has a present or future beneficial interest in a trust, vested or contingent. See Connecticut General Statutes 45a-499c
- Court: means a court of this state having jurisdiction over the matter pursuant to sections 45a-499o and 45a-499p or a court of another state having jurisdiction under the law of the other state. See Connecticut General Statutes 45a-499c
- Inter vivos: Transfer of property from one living person to another living person.
- Testamentary trust: means a trust created under a will and, unless otherwise expressly provided, any trust established pursuant to an order of the Probate Court. See Connecticut General Statutes 45a-499c
- Trustee: A person or institution holding and administering property in trust.
- Trustee: includes an original, additional and successor trustee and a cotrustee. See Connecticut General Statutes 45a-499c
(b) The trustee of a testamentary trust, with court approval, may combine the trust with another trust or divide the trust into two or more separate trusts if the result does not impair rights of a beneficiary or adversely affect achievement of the purposes of the trust.