American National Bank of Cheyenne v. Miller
Wyoming Supreme Court
899 P.2d 1337 (1995)
Relevant factsFree
Plummer's trust provided monthly payments to her son-in-law Miller for life, then distributions to her grandchildren at ages 23, 28, and 35, with the remainder ultimately going to the University of Wyoming; after all grandchildren turned 35 and Miller assigned away his income interest, all beneficiaries (plaintiffs) agreed to terminate the trust early, but the trustee (defendant) refused.
IssueFree
Whether a trust may be terminated if all of the beneficiaries consent to the termination and continuing the trust is not necessary to carry out a material purpose of the trust.