reglab/housing_qa huggingface dataset:
14 V.S.A. § 408
2021 Vermont Statutes|Title 14A - Trusts|Chapter 4 - Creation, Validity, Modification, and Termination of Trust|§ 408. Trust for care of animal

§ 408. Trust for care of animal|(a) A trust may be created to provide for the care of an animal alive during the settlor's lifetime. The trust terminates upon the death of the animal or, if the trust was created to provide for the care of more than one animal alive during the settlor's lifetime, upon the death of the last surviving animal.(b) A trust authorized by this section may be enforced by a person appointed in the terms of the trust or, if no person is so appointed, by a person appointed by the Probate Division of the Superior Court. A person having an interest in the welfare of the animal may request the Probate Division of the Superior Court to appoint a person to enforce the trust or to remove a person appointed.(c) Property of a trust authorized by this section may be applied only to its intended use, except to the extent the Probate Division of the Superior Court determines that the value of the trust property exceeds the amount required for the intended use. Except as otherwise provided in the terms of the trust, property not required for the intended use must be distributed to the settlor, if then living, otherwise to the settlor's successors in interest. (Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj. Sess.), § 236, eff. February 1, 2011.)
14 V.S.A. § 409
2021 Vermont Statutes|Title 14A - Trusts|Chapter 4 - Creation, Validity, Modification, and Termination of Trust|§ 409. Noncharitable trust without ascertainable beneficiary

§ 409. Noncharitable trust without ascertainable beneficiary|Except as otherwise provided in section 408 of this title or by another statute, the following rules apply:  (1) A trust may be created for a noncharitable purpose without a definite or definitely ascertainable beneficiary or for a noncharitable but otherwise valid purpose to be selected by the trustee. The trust may not be enforced for more than 21 years. (2) A trust authorized by this section may be enforced by a person appointed in the terms of the trust or, if no person is so appointed, by a person appointed by the Probate Division of the Superior Court. (3) Property of a trust authorized by this section may be applied only to its intended use, except to the extent the Probate Division of the Superior Court determines that the value of the trust property exceeds the amount required for the intended use. Except as otherwise provided in the terms of the trust, property not required for the intended use must be distributed to the settlor, if then living, otherwise to the settlor's successors in interest. (Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj. Sess.), § 236, eff. Feb. 1, 2011.)
14 V.S.A. § 410
2021 Vermont Statutes|Title 14A - Trusts|Chapter 4 - Creation, Validity, Modification, and Termination of Trust|§ 410. Modification or termination of trust; proceedings for approval or disapproval

§ 410. Modification or termination of trust; proceedings for approval or disapproval|(a) In addition to the methods of termination prescribed by sections 411 through 414 of this title, a trust terminates to the extent the trust is revoked or expires pursuant to its terms, no purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful, contrary to public policy, or impossible to achieve.(b) A proceeding to approve or disapprove a proposed modification or termination under sections 411 through 416 of this title, or trust combination or division under section 417 of this title, may be commenced by a trustee or beneficiary, and a proceeding to approve or disapprove a proposed modification or termination under section 411 of this title may be commenced by the settlor. The settlor of a charitable trust may maintain a proceeding to modify the trust under section 413 of this title. (Added 2009, No. 20, § 1.)
14 V.S.A. § 411
2021 Vermont Statutes|Title 14A - Trusts|Chapter 4 - Creation, Validity, Modification, and Termination of Trust|§ 411. Modification or termination of noncharitable irrevocable trust by consent

§ 411. Modification or termination of noncharitable irrevocable trust by consent|(a) A noncharitable irrevocable trust may be modified or terminated upon consent of the settlor and all beneficiaries, even if the modification or termination is inconsistent with a material purpose of the trust. If, upon petition, the Probate Division of the Superior Court finds that the settlor and all beneficiaries consent to the modification or termination of a noncharitable irrevocable trust, the Probate Division of the Superior Court shall approve the modification or termination even if the modification or termination is inconsistent with a material purpose of the trust. A settlor's power to consent to a trust's modification or termination may be exercised by an agent under a power of attorney only to the extent expressly authorized by the power of attorney or the terms of the trust; by the settlor's guardian of the property with the approval of the Probate Division of the Superior Court supervising the guardianship if an agent is not so authorized; or by the settlor's guardian of the person with the approval of the Probate Division of the Superior Court supervising the guardianship if an agent is not so authorized and a guardian of the property has not been appointed.(b) A noncharitable irrevocable trust may be terminated upon consent of all of the beneficiaries if the Probate Division of the Superior Court concludes that continuance of the trust is not necessary to achieve any material purpose of the trust. A noncharitable irrevocable trust may be modified upon consent of all of the beneficiaries if the Probate Division of the Superior Court concludes that modification is not inconsistent with a material purpose of the trust.(c) A spendthrift provision in the terms of the trust is not presumed to constitute a material purpose of the trust.(d) Upon termination of a trust under subsection (a) or (b) of this section, the trustee shall distribute the trust property as agreed by the beneficiaries.(e) If not all of the beneficiaries consent to a proposed modification or termination of the trust under subsection (a) or (b) of this section, the modification or termination may be approved by the Probate Division of the Superior Court if the Probate Division of the Superior Court is satisfied that:  (1) if all of the beneficiaries had consented, the trust could have been modified or terminated under this section; and (2) the interests of a beneficiary who does not consent will be adequately protected. (Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj. Sess.), § 236, eff. Feb. 1, 2011.)
14 V.S.A. § 412
2021 Vermont Statutes|Title 14A - Trusts|Chapter 4 - Creation, Validity, Modification, and Termination of Trust|§ 412. Modification or termination because of unanticipated circumstances or inability to administer trust effectively

§ 412. Modification or termination because of unanticipated circumstances or inability to administer trust effectively|(a) The Probate Division of the Superior Court may modify the administrative or dispositive terms of a trust or terminate the trust if, because of circumstances not anticipated by the settlor, modification or termination will further the purposes of the trust. To the extent practicable, the modification must be made in accordance with the settlor's probable intention.(b) The Probate Division of the Superior Court may modify the administrative terms of a trust if continuation of the trust on its existing terms would be impracticable or wasteful or impair the trust's administration.(c) Upon termination of a trust under this section, the trustee shall distribute the trust property as directed by the Probate Division of the Superior Court or otherwise in a manner consistent with the purposes of the trust. (Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj. Sess.), § 236, eff. Feb. 1, 2011.)
14 V.S.A. § 413
2021 Vermont Statutes|Title 14A - Trusts|Chapter 4 - Creation, Validity, Modification, and Termination of Trust|§ 413. Cy pres

§ 413. Cy pres|(a) Except as otherwise provided in subsection (b) of this section, if a particular charitable purpose becomes unlawful, impracticable, impossible to achieve, or wasteful:  (1) the trust does not fail, in whole or in part; (2) the trust property does not revert to the settlor or the settlor's successors in interest; and (3) the Probate Division of the Superior Court, on motion of any trustee, or any interested person, or the Attorney General, may apply cy pres to modify or terminate the trust by directing that the trust property be applied or distributed, in whole or in part, in a manner consistent with the settlor's charitable purposes.   (b) A provision in the terms of a charitable trust that would result in distribution of the trust property to a noncharitable beneficiary prevails over the power of the Probate Division of the Superior Court under subsection (a) of this section to apply cy pres to modify or terminate the trust only if, when the provision takes effect:  (1) the trust property is to revert to the settlor and the settlor is still living; or (2) fewer than 21 years have elapsed since the date of the trust's creation. (Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj. Sess.), § 236, eff. February 1, 2011.)
14 V.S.A. § 414
2021 Vermont Statutes|Title 14A - Trusts|Chapter 4 - Creation, Validity, Modification, and Termination of Trust|§ 414. Modification or termination of uneconomic trust

§ 414. Modification or termination of uneconomic trust|(a) After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than $100,000.00 may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration.(b) The Probate Division of the Superior Court may modify or terminate a trust or remove the trustee and appoint a different trustee if it 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 as directed by the Probate Division of the Superior Court or otherwise in a manner consistent with the purposes of the trust.(d) This section does not apply to an easement for conservation or preservation. (Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj. Sess.), § 236, eff. February 1, 2011.)
14 V.S.A. § 415
2021 Vermont Statutes|Title 14A - Trusts|Chapter 4 - Creation, Validity, Modification, and Termination of Trust|§ 415. Reformation to correct mistakes

§ 415. Reformation to correct mistakes|The Probate Division of the Superior Court may reform the terms of a trust, even if unambiguous, to conform the terms to the settlor's intention if it is proved by clear and convincing evidence that both the settlor's intent and the terms of the trust were affected by a mistake of fact or law, whether in expression or inducement. (Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj. Sess.), § 236, eff. February 1, 2011.)
14 V.S.A. § 416
2021 Vermont Statutes|Title 14A - Trusts|Chapter 4 - Creation, Validity, Modification, and Termination of Trust|§ 416. Modification to achieve settlor's tax objectives

§ 416. Modification to achieve settlor's tax objectives|The Probate Division of the Superior Court may modify the terms of a trust to achieve the settlor's tax objectives if the modification is not contrary to the settlor's probable intention. The Probate Division of the Superior Court may provide that the modification has retroactive effect. (Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj. Sess.), § 236, eff. Feb. 1, 2011.)
14 V.S.A. § 417
2021 Vermont Statutes|Title 14A - Trusts|Chapter 4 - Creation, Validity, Modification, and Termination of Trust|§ 417. Combination and division of trusts

§ 417. Combination and division of trusts|After notice to the qualified beneficiaries, a trustee may combine two or more trusts into a single trust or divide a trust into two or more separate trusts if the result does not impair rights of any beneficiary or adversely affect achievement of the purposes of the trust. (Added 2009, No. 20, § 1.)
14 V.S.A. § 418
2021 Vermont Statutes|Title 14A - Trusts|Chapter 4 - Creation, Validity, Modification, and Termination of Trust|§ 418. Intentional and unlawful killing; termination of interest in trust

§ 418. Intentional and unlawful killing; termination of interest in trust|(a) A person who commits an intentional and unlawful killing shall forfeit an interest in a trust:  (1) to the extent the trust was funded by the victim of the intentional and unlawful killing or would be funded by the victim's estate; (2) to the extent the person's interest in the trust is augmented or advanced by the termination of the victim's interest in the trust as the result of the person's intentional and unlawful killing of the victim, and the interest is attributable to funding by someone other than the person or the victim of the intentional and unlawful killing; (3) if the interest was created as the result of an exercise of a power of appointment held by the victim.   (b) An interest in a trust that is forfeited under subsection (a) of this section shall be administered and distributed in accordance with the terms of the trust as if the person whose interest is forfeited died on the date of the intentional and unlawful killing.(c) A person who commits an intentional and unlawful killing shall be removed as trustee of a trust:  (1) that was funded by the victim of the intentional and unlawful killing or would be funded by the victim's estate; (2) in which the person's interest in the trust is augmented or advanced by the termination of the victim's interest in the trust as the result of the person's intentional and unlawful killing of the victim, and the interest is attributable to funding by someone other than the person or the victim of the intentional and unlawful killing.   (d) For purposes of this section, the record of a conviction of a person for an intentional and unlawful killing of another shall be conclusive evidence that the person committed an intentional and unlawful killing of the other person.(e) In the absence of a final judgment of conviction, a beneficiary or trustee of a trust may petition the Probate Division of the Superior Court for a determination, or the court may on its own initiative determine, that the interest of a person who commits an intentional and unlawful killing has been forfeited under subsection (a) of this section, or that a person should be removed as trustee under subsection (c) of this section.(f) This section shall apply to any interest in a trust that is or will be distributed on or after January 1, 2009. (Added 2009, No. 55, § 9; amended 2009, No. 154 (Adj. Sess.), § 236, eff. February 1, 2011.)
14 V.S.A. § 501
2021 Vermont Statutes|Title 14A - Trusts|Chapter 5 - Creditor's Claims; Spendthrift and Discretionary Trusts|§ 501. Rights of beneficiary's creditor or assignee

§ 501. Rights of beneficiary's creditor or assignee|To the extent a beneficiary's interest is not protected by a spendthrift provision, the Probate Division of the Superior Court may authorize a creditor or assignee of the beneficiary to reach the beneficiary's interest by attachment of present or future distributions to or for the benefit of the beneficiary or other means. The Probate Division of the Superior Court may limit the award to such relief as is appropriate under the circumstances. (Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj. Sess.), § 236, eff. February 1, 2011.)
14 V.S.A. § 502
2021 Vermont Statutes|Title 14A - Trusts|Chapter 5 - Creditor's Claims; Spendthrift and Discretionary Trusts|§ 502. Spendthrift provision

§ 502. Spendthrift provision|(a) A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest.(b) A term of a trust providing that the interest of a beneficiary is held subject to a "spendthrift trust," or words of similar import, is sufficient to restrain both voluntary and involuntary transfer of the beneficiary's interest.(c) A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift provision and, except as otherwise provided in this chapter, a creditor or assignee of the beneficiary may not reach the interest or a distribution by the trustee before its receipt by the beneficiary. (Added 2009, No. 20, § 1.)
14 V.S.A. § 503
2021 Vermont Statutes|Title 14A - Trusts|Chapter 5 - Creditor's Claims; Spendthrift and Discretionary Trusts|§ 503. Exceptions to spendthrift provision

§ 503. Exceptions to spendthrift provision|(a) In this section, "child" includes any person for whom an order or judgment for child support has been entered in this or another state.(b) A spendthrift provision is unenforceable against:  (1) a beneficiary's child who has a judgment or court order against the beneficiary for support or maintenance; (2) a judgment creditor who has provided services for the protection of a beneficiary's interest in the trust; and (3) a claim of this State or the United States to the extent a statute of this State or federal law so provides.   (c) A claimant against which a spendthrift provision cannot be enforced may obtain from a court an order attaching present or future distributions to or for the benefit of the beneficiary. The court may limit the award to such relief as is appropriate under the circumstances. (Added 2009, No. 20, § 1.)
14 V.S.A. § 504
2021 Vermont Statutes|Title 14A - Trusts|Chapter 5 - Creditor's Claims; Spendthrift and Discretionary Trusts|§ 504. Discretionary trusts; effect of standard

§ 504. Discretionary trusts; effect of standard|(a) In this section, "child" includes any person for whom an order or judgment for child support has been entered in this or another state.(b) Except as otherwise provided in subsection (c) of this section, whether or not a trust contains a spendthrift provision, a creditor of a beneficiary may not compel a distribution that is subject to the trustee's discretion, even if:  (1) the discretion is expressed in the form of a standard of distribution; or (2) the trustee has abused the discretion.   (c) To the extent a trustee has not complied with a standard of distribution or has abused a discretion:  (1) a distribution may be ordered by the court to satisfy a judgment or court order against the beneficiary for support or maintenance of the beneficiary's child, spouse, or former spouse; and (2) the court shall direct the trustee to pay to the child, spouse, or former spouse such amount as is equitable under the circumstances but not more than the amount the trustee would have been required to distribute to or for the benefit of the beneficiary had the trustee complied with the standard or not abused the discretion.   (d) This section does not limit the right of a beneficiary to maintain a judicial proceeding against a trustee for an abuse of discretion or failure to comply with a standard for distribution.(e) If the trustee's or cotrustee's discretion to make distributions for the trustee's or cotrustee's own benefit is limited by an ascertainable standard, a creditor may not reach or compel distribution of the beneficial interest except to the extent the interest would be subject to the creditor's claim were the beneficiary not acting as trustee or cotrustee. (Added 2009, No. 20, § 1; amended 2009, No. 92 (Adj. Sess.), § 7.)
14 V.S.A. § 505
2021 Vermont Statutes|Title 14A - Trusts|Chapter 5 - Creditor's Claims; Spendthrift and Discretionary Trusts|§ 505. Creditor's claim against settlor

§ 505. Creditor's claim against settlor|(a) Whether or not the terms of a trust contain a spendthrift provision, the following rules apply:  (1) During the lifetime of the settlor, the property of a revocable trust is subject to claims of the settlor's creditors. (2) With respect to an irrevocable trust, a creditor or assignee of the settlor may reach the maximum amount that can be distributed to or for the settlor's benefit. If a trust has more than one settlor, the amount the creditor or assignee of a particular settlor may reach shall not exceed the settlor's interest in the portion of the trust attributable to that settlor's contribution. This subdivision shall not apply to an irrevocable "special needs trust" established for a disabled person as described in 42 U.S.C. § 1396p(d)(4) or similar federal law governing the transfer to such a trust. (3) After the death of a settlor, and subject to the settlor's right to direct the source from which liabilities will be paid, the property of a trust that was revocable at the settlor's death is subject to claims of the settlor's creditors, costs of administration of the settlor's estate, the expenses of the settlor's funeral and disposal of remains, and statutory allowances to a surviving spouse and children to the extent the settlor's probate estate is inadequate to satisfy those claims, costs, expenses, and allowances.   (b) For purposes of this section:  (1) during the period the power may be exercised, the holder of a power of withdrawal is treated in the same manner as the settlor of a revocable trust to the extent of the property subject to the power; and (2) upon the lapse, release, or waiver of the power, the holder is treated as the settlor of the trust only to the extent the value of the property affected by the lapse, release, or waiver exceeds the greater of the amount specified in § 2041(b)(2) or 2514(e) of the Internal Revenue Code of 1986, or § 2503(b) of the Internal Revenue Code of 1986, in each case as in effect on the effective date of this title. (Added 2009, No. 20, § 1.)
14 V.S.A. § 506
2021 Vermont Statutes|Title 14A - Trusts|Chapter 5 - Creditor's Claims; Spendthrift and Discretionary Trusts|§ 506. Overdue distribution

§ 506. Overdue distribution|(a) In this section, "mandatory distribution" means a distribution of income or principal which the trustee is required to make to a beneficiary under the terms of the trust, including a distribution upon termination of the trust. The term does not include a distribution subject to the exercise of the trustee's discretion even if:  (1) the discretion is expressed in the form of a standard of distribution; or (2) the terms of the trust authorizing a distribution couple language of discretion with language of direction.   (b) Whether or not a trust contains a spendthrift provision, a creditor or assignee of a beneficiary may reach a mandatory distribution of income or principal, including a distribution upon termination of the trust, if the trustee has not made the distribution to the beneficiary within a reasonable time after the designated distribution date. (Added 2009, No. 20, § 1.)
14 V.S.A. § 507
2021 Vermont Statutes|Title 14A - Trusts|Chapter 5 - Creditor's Claims; Spendthrift and Discretionary Trusts|§ 507. Personal obligation of trustee

§ 507. Personal obligation of trustee|Trust property is not subject to personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt. (Added 2009, No. 20, § 1.)
14 V.S.A. § 601
2021 Vermont Statutes|Title 14A - Trusts|Chapter 6 - Revocable Trusts|§ 601. Capacity of settlor of revocable trust

§ 601. Capacity of settlor of revocable trust|The capacity of a settlor required to create, amend, revoke, or add property to a revocable trust, or to direct the actions of the trustee of a revocable trust, is the same as that required to make a will. (Added 2009, No. 20, § 1.)