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- Alaska Statutes.
- Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
- Chapter 36. Trust Administration
- Section 365. Uneconomical Irrevocable Trust.
previous: Section 360
. Modification or Termination of Irrevocable Trust By Consent.
next: Section 368
. Claims Against Revocable Trusts.
AS 13.36.365. Uneconomical Irrevocable Trust.
- (a) Notwithstanding the other provisions of AS 13.36.338
- 13.36.365, if the value of the property of an
irrevocable trust is less than $50,000, the trustee may terminate the trust unless the trust instrument provides
- (b) Notwithstanding the other provisions of AS 13.36.338
- 13.36.365 and the terms of the trust, on petition
to the superior court by a trustee, settlor, or beneficiary, the court may modify or terminate an irrevocable
noncharitable trust, or remove the trustee and appoint a different trustee, if the court 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 accordance with the
settlor's probable intent.
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