In Re Trust Under the Last Will & Testament of Lane

CHASANOW, Judge.

This case presents two issues for our consideration: Whether the circuit court may modify the terms of a testamentary trust if all the beneficiaries consent and the modification does not frustrate the settlor’s purpose; and secondly, if in fact the court has the power to modify the testamentary trust, whether, in the instant case, all the possible beneficiaries have consented to the proposed modification.

At the heart of the controversy is the last will and testament of Michael J. Lane, who died on February 10, 1964. A testamentary trust was created, the pertinent language of…