SB11 Alabama 2023 Session

Under existing law, the trustee of trust property may terminate a trust having a value of less than $50,000 if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration

This bill would increase the minimum threshold dollar amount to $100,000 and would allow that amount to be increased or decreased in subsequent years based on changes to the Consumer Price Index

Relating to the Alabama Uniform Trust Code; to amend Section 19-3B-414, Code of Alabama 1975, to further provide for the modification or termination of an uneconomic trust.