Indiana § 30-4-3-24.5 - Termination by trustee of trust with value less than $75,000
Full text of Indiana Indiana Code § 30-4-3-24.5 — Termination by trustee of trust with value less than $75,000, with citation guidance and answers to common questions.
§ 30-4-3-24.5. Termination by trustee of trust with value less than $75,000
Sec. 24.5. (a) This section does not apply to an easement for conservation or preservation.
(b) This subsection applies to a trust consisting of trust property having a total value of less than seventy-five thousand dollars ($75,000). Unless the terms of the trust provide otherwise, the trustee may terminate the trust:
(1) if the trustee concludes the value of the trust property is insufficient to justify the cost of administration; and
(2) after providing notice of the trust termination to qualified beneficiaries.
(c) The trustee may propose the termination of a trust by written notice to qualified beneficiaries if the trustee, upon review of surrounding circumstances, concludes that continuation of the trust on its existing terms would be contrary to the economic best interest of the trust estate and that early termination would be in the best interests of the beneficiaries consistent with the settlor's intent. This trust termination shall occur upon receipt of written consent of all qualified beneficiaries.
(d) The court may:
(1) modify or terminate a trust; or
(2) 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. If a trust terminates under this subsection, the court shall direct the trustee to distribute the trust property in a manner consistent with the purposes of the trust.
(e) If a trust terminates under subsection (c), the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.
As added by P.L.238-2005, SEC.36. Amended by P.L.221-2019, SEC.5; P.L.231-2019, SEC.26.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 30-4-3-24.5
What does Indiana Code § 30-4-3-24.5 cover?
Section 30-4-3-24.5 ("Termination by trustee of trust with value less than $75,000") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 30-4-3-24.5?
A common citation format is "Indiana Code § 30-4-3-24.5" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 30-4-3-24.5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.