QUESTION
Issue: Irrevocable Trust; What Texas form is needed to Terminate?
Asked on Oct 27th, 2015 on Estate Planning - Texas
More details to this question:
Within the Trust Document itself is a clause that allows the Trust to be Terminated by the Trustee.
1 ANSWER
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The trust probably allows the trustee to terminate only in certain circumstances, such as the trust purpose can no longer be satisfied or there is not enough assets in the trust to justify its existence. The former usually occurs because there are no living beneficiary to meet a condition. The latter is usually provides the trustee to terminate if the assets are under a definite value.
Answered on Nov 02nd, 2015 at 6:57 AM