Termination by Consent
•    337 – all beneficiary are adult and competent – may terminate if not frustrating material purpose
•    338 – Settlor and beneficiary may agree
-    Since settlor is alive, don’t have to look at material purpose, since can change mind
•    Must have consent of all beneficiaries and can’t violate a material purpose (US “Claflin doctrine”):
-    Fact that has more than one beneficiary is not material
-    Spendthrift trust language is material
•    In England, can do anything – testator intent is disregarded
-    Claflin doctrine prevents this in the US
•    Bayley
-    Prop 123.002, 123.003
-    Parens patriae – AG represents all charities so that charities don’t have to litigate
-    Charity wins and trust terminated
•    Hatch
-    Self-settled trust
-    Refuses to apply doctrine of worthier title
-    Court says “to X and remainder to Y” means exactly that
-    Prop 5.042a – also dismisses Rule in Shelley’s Case
-    Court says can’t terminate trust because heirs (who are these people!?  They’re determined at death!) have remainder
-    Can appoint guardian ad litem, but they’re then arguing for settlor to give all because will get it all when settlor dies
•    Power of appointment could take all benefits from remaindermen
•    NY doesn’t require unborn consent (Restatement 3rd agrees)