Me. Rev. Stat. » Title 18-B
Maine Revised Statutes

Me. Rev. Stat. tit. 18-B, § 414 (2026)

Modification or termination of uneconomic trust

✓ current as of May 2026
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1.  Termination by trustee after notice.  After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than $100,000 may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration.  
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
2.  Modification, termination, new trustee by court.  The 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.  
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
3.  Distribution after termination.  Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.  
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
4.  Easement for conservation or preservation.  This section does not apply to an easement for conservation or preservation.  
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
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Notes of Decisions
Cited in 1 case, 2015–2015 · leading case: Martin v. Harris (Me. Super. Ct 2015).
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Martin v. Harris (Me. Super. Ct 2015). “Accordingly, judgment on Count III is for the Plaintiff Count IV if the Counterclaim: Count IV requests that the court declare the Trust to be an uneconomic trust for lack of adequate funds as permitted under 18-B M.R.S. § 414, terminate administration and order the Trust…”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.