Section 417. Combination and division of trusts

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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

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