Connecticut General Statutes 45a-521 – Superior Court or Probate Court jurisdiction to reform charitable remainder unitrust re payment
(a) Upon a petition filed within the period specified in 26 C.F.R. § 1.664-3, by a trustee of a charitable remainder unitrust, the Superior Court, or a Probate Court specified in § 45a-499p shall have jurisdiction to reform such charitable remainder unitrust for the sole purpose of substituting a provision allowing payment of the unitrust amount under 26 C.F.R. § 1.664-3 for an existing provision providing for payment of the unitrust amount under 26 C.F.R. § 1.664-3.
Terms Used In Connecticut General Statutes 45a-521
- 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
- Donor: The person who makes a gift.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Probate: Proving a will
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Testator: A male person who leaves a will at death.
(b) The Superior Court or the Probate Court are empowered to reform such trust only to the extent the court finds that such reformation is consistent with the original intent of the testator or donor.
(c) This section shall not be construed to effect a change in any dispositive provision of the trust as provided in § 45a-514.