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We would like to terminate a trust as it no longer serves a purpose. There is no longer any value and all distributions have been made. All beneficiaries are in agreement. Is there a legal form we need between us and also something to show the bank?
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Estate Litigation Attorney serving Redlands, CA
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Price Law Firm, APC
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If the trustee has the power to distribute all fo the remaining property and to terminate the trust, then the beneficiaries can agree and sign over an indeminity agreement for the trustee and then distribute the property and terminate the trust.
Answered on Dec 11th, 2015 at 4:15 PM