DE SB248

Amends Delaware Code Title 12 to add new Section 3342 authorizing modification of irrevocable trusts with consent or written non-objection from the trustor, all serving fiduciaries, and all beneficiaries.

Permits trust modifications to include any provision that could have been included in the original trust governing instrument, even if the modification violates a material purpose of the trust.

Fiduciaries have no duty to consent to proposed modifications and cannot be held liable for failure to consent absent willful misconduct.

Allows any interested person, including the trustor, to bring proceedings in Court of Chancery to interpret, apply, enforce, or determine the validity of modifications adopted under this section.

Applies to any trust administered under Delaware law regardless of when the trust was created and takes effect upon enactment.