Search OpenLegislation Statutes
This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 2-1.15
Consequences of partly ineffective dispositions of trust
Estates, Powers & Trusts (EPT) CHAPTER 17-B, ARTICLE 2, PART 1
§ 2-1.15 Consequences of partly ineffective dispositions of trust
principal to two or more beneficiaries

Whenever the remainder of a lifetime or testamentary trust passes,
whether outright or in further trust, to two or more designated
beneficiaries, and such remainder is ineffective in part and no
effective alternative disposition has been made in the governing
instrument, such ineffective part shall pass to the other designated
beneficiary or, if there are two or more other designated beneficiaries,
to such beneficiaries in the proportions that their respective interests
in such principal bear to the aggregate of the interests of such
designated beneficiaries in such principal.