HomeMy WebLinkAbout1236 "If the settlor and all of the ber.eficiaries of a
trust consent and none of them is under an incapacity,
they can compel the termination or modification of
the trust, although the purposes of the trust have
not been accomplished."
Have the settlors and all of the beneficiaries of this
~`rust consented to its modification? The~six now living Donors have
consented by their adoption of the Amendment. In addition~to these
six, the estate of deceased Donor Elizabeth Peters Bin:~ey, and the
two•daughters of deceased Donor Allan Farrand Kitchel, Jr. are
presently entitled to receive income payments from the Trust and would
be entitled to their share of any principal distribution if Amendm~nt
No. 1 is valid. These former contingent beneficiaries, whose interests
in the Trust have vested, have admitted the allegations of the complaint,
and although they do~not specifically consent in their answers to the
Amendment, the Court for the purpose of this consiu~ration will assume
that they would consent.
There are alsa other known contingent benficiaries whose
~ interest in the Trust have not vPsted. The four sons of Donor Barbara
f Kitchel Girdler and the four children of Donor pouglas Binney Kit~hel
have filed answers admitting the allegations of the complaint, and
although these answers do not specifically consent to Amendment No. 1,
the Court for the purpose of this consideration will assume that tl~ey
would also consent.
The Guardian Ad Litum for the nine minor granddaughters of
Donor porothy Binney Palmer, and for any other persons, known or un-
known, born or unborn, who might have an interest in this Trust, has
not consented. The question thus becomes whether or not the Trust may
be revoked, altered, ar.iended or terminated prior to ten years of date,
with the consent of the now living Donors and aIl beneficiaries whose
interests have vested. Or stated another way, is the consent of all
contingent beneficiaries also required?
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