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or termination even if the modification or termination is | | inconsistent with a material purpose of the trust, if the court | | finds that the modification or termination is in the best interests | | of the beneficiaries. A settlor's power to consent to a trust's | | modification or termination may be exercised by an agent under a | | power of attorney only to the extent expressly authorized by the | | power of attorney or the terms of the trust; by the settlor's | | conservator with the approval of the court supervising the | | conservatorship if an agent is not so authorized; or by the | | settlor's guardian with the approval of the court supervising the | | guardianship if an agent is not so authorized and a conservator has | | not been appointed. |
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| | | Sec. 10. 18-B MRSA §501, as enacted by PL 2003, c. 618, Pt. A, §1 | | and affected by §2, is amended to read: |
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| | | §501. Rights of beneficiary's creditor or assignee |
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| | | To the extent a beneficiary's interest is not protected by a | | spendthrift provision, the court may authorize a creditor or | | assignee of the beneficiary to reach the beneficiary's interest | by attachment of present or future distributions to or for the | benefit ofor other means | | the award to such relief as is appropriate under the | | circumstances. |
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| | | Sec. 11. 18-B MRSA §504, sub-§2, as enacted by PL 2003, c. 618, Pt. A, | | §1 and affected by §2, is amended to read: |
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| | | 2. Right of beneficiary not limited. This section does not | | limit the right of a beneficiary to maintain a judicial | proceeding against a trustee for an abuse of discretion | | to exercise a discretionary power in accordance with the terms | | and purposes of the trust or for failure to comply with a | | standard for distribution. |
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| | | Sec. 12. 18-B MRSA §504, sub-§3 is enacted to read: |
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| | | 3.__Creditor limited.__A creditor may not reach the interest | | of a beneficiary who is also a trustee, or otherwise compel a | | distribution, if the trustee's discretion is limited by an | | ascertainable standard. |
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| | | Sec. 13. 18-B MRSA §603, sub-§1, as enacted by PL 2003, c. 618, Pt. A, | | §1 and affected by §2, is amended to read: |
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| | | 1. Revocable trust. While a trust is revocable and the | settlor has capacity to revoke the trust | | beneficiaries are subject to the control of, and the duties of | | the trustee are owed exclusively to, the settlor. |
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