Читать книгу Form 1041 - Stephen Brooks - Страница 31

The trust agreement may provide for a specific term of the trust. For example, a trust agreement may provide that the trust will end after a specified period of time has elapsed, such as 20 years after the formation of the trust. The trust agreement may also state that the trust will end upon the occurrence of a specified event, for instance, the beneficiary reaching the age of 21. In addition, the settlor may retain the power to revoke the trust or vest that power in the trustee or other named party, even the trust beneficiaries. Generally, a settlor may revoke or amend a trust unless the trust instrument expressly provides that the trust is irrevocable.⁴⁰ The UTC also contains provisions which permit termination and modification of a trust with or without court approval.⁴¹ Absent specific provisions in the trust document, a trust will terminate when no purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful or contrary to public policy.⁴²