386B.4 -170 Combination and division of trusts. (1) After notice to the qualified beneficiaries, a trustee may combine two (2) or more trusts into a single trust or divide a trust into two (2) or more separate trusts, if the result does not impair rights of any beneficiary or adversely affect achievement of the purposes of the trust. (2) Any division of a trust shall be made on a fractional basis, and may be funded by a non-pro rata distribution of assets to the separate trusts. (3) The District Court shall have exclusive jurisdiction over matters under th is section. Effective: July 15, 2014 History: Created 2014 Ky. Acts ch. 25, sec. 39, effective July 15, 2014.
Kentucky Legal Code