North Carolina § 36C-6-607 - Modification or termination of a revocable trust.

§ 36C-6-607. Modification or termination of a revocable trust.

A revocable trust may be modified or terminated by the court pursuant to any of the methods for modification or termination of an irrevocable trust set forth in G.S. 36C-4-411(b) or (c), 36C-4-412, 36C-4-415, or 36C-4-416. The settlor is a necessary party to any proceeding brought to modify or terminate a revocable trust. History (2007-106, s. 26.1.) NORTH CAROLINA COMMENT (2007) Effective October 1, 2007, this section, which is not a part of the Uniform Trust Code, provides that a revocable trust may be modified or terminated by court order pursuant to any of the methods set forth in Article 4 of Chapter 36C for modifying or terminating an irrevocable trust. There is no requirement that the settlor of the revocable trust must first be adjudicated or otherwise determined to be incompetent before a proceeding under this section may be maintained. The section also makes clear that the settlor is a necessary party to any proceeding brought under the section. Editor's Note. - Session Laws 2007-106, s. 55, provides: "The Revisor of Statutes shall cause to be printed all explanatory comments of the drafters of this act, or revisions to existing explanatory comments of the drafters of this act, as the Revisor may deem appropriate." Session Laws 2007-106, s. 56, provides: "This act becomes effective October 1, 2007, and applies to (i) all trusts created, and to all conveyances, devises, beneficiary designations, or other transfers occurring before, on, or after that date; (ii) all judicial proceedings concerning trusts or transfers to or by trusts commenced on or after that date; and (iii) all judicial proceedings concerning trusts or transfers to or by trusts commenced before that date unless the court finds that application of a particular provision of this act would substantially interfere with the effective conduct of the judicial proceedings or prejudice the rights of the parties, in which case the law as it existed on September 30, 2007, shall apply."