1. An irrevocable trust may be terminated or modified by the court with the consent of all of the beneficiaries if continuance of the trust on the same or different terms is not necessary to carry out a material purpose.
2. Upon termination of the trust, the court shall order the distribution of trust property in accordance with the probable intention of the settlor.
3. For purposes of this section, the consent of a person who may bind a beneficiary is considered the consent of the beneficiary.
99 Acts, ch 125, §17, 109; 2000 Acts, ch 1150, §10
Referred to in § 633.2201
Section effective July 1, 2000; 99 Acts, ch 125, § 109
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