Trust Termination Failed Where Petitioner Could Not Demonstrate Circumstances Not Anticipated By The Settlor
March 13th, 2013
It usually takes a lot to convince a judge to terminate a trust. The grantor wanted assets held in trust for a reason. Therefore, if you want to go against the grantor’s intent and terminate a trust, then you better give the court a very good reason why termination is appropriate. And, there may very well be good reasons to terminate a trust. That’s why many states have a statutory method for terminating or modifying a trust.
In Kristoff v. Centier Bank, Amy Jean Kristoff tried to use Indiana‘s statute to terminate or modify a trust created by her mother. The Court of Appeals of Indiana found that Amy did not satisfy her burden under the statute because Amy could not demonstrate the existence of circumstances not anticipated by the settlor of the trust.
What were the unanticipated circumstances Amy was claiming warranted termination of the trust? (more…)