2010 Alaska Statutes
Title 13. DECEDENTS' ESTATES, GUARDIANSHIPS, TRANSFERS, TRUSTS, AND HEALTH CARE DECISIONS
Chapter 13.36. TRUST ADMINISTRATION
Sec. 13.36.365. Uneconomical irrevocable trust.
(a) Notwithstanding the other provisions of AS 13.36.338 - 13.36.365, if the value of the property of an irrevocable trust is less than ,000, the trustee may terminate the trust unless the trust instrument provides otherwise.
(b) Notwithstanding the other provisions of AS 13.36.338 - 13.36.365 and the terms of the trust, on petition to the superior court by a trustee, settlor, or beneficiary, the court may modify or terminate an irrevocable noncharitable trust, or remove the trustee and appoint a different trustee, if the court 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 in accordance with the settlor's probable intent.
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