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SPIEGEL & UTRERA, P.A.

LAWYERS
FORM YOUR ENTITY ONLINE!

PAYMENT IS NOT REQUIRED

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Trust Termination Agreement

$399.95

Are you terminating your trust?

Trust termination plays a pivotal role when the ongoing administration of a trust becomes impractical or diverges from its original purpose. In such instances, a Trust Termination Agreement assumes significance, serving as a comprehensive legal instrument.

This agreement incorporates robust provisions, encompassing the designation of successor trustees, precise distribution guidelines, accounting waivers where appropriate, and consent mechanisms from beneficiaries for the conclusive distribution of trust assets. Addressing funding at the date of distribution values and proposing final distribution plans, the Trust Termination Agreement acts as a safeguard, not only for the beneficiaries but also for the successor trustee. Through meticulous drafting, this agreement aims to secure a consensus among beneficiaries while protecting the integrity of the trust’s transition and final distribution.
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Terminating your trust?

  • Successor Trustees Designation:

    • Clearly defines and designates successor trustees to seamlessly continue the trust administration.

  • Distribution Guidelines:

    • Outlines precise guidelines for the distribution of trust assets, ensuring a fair and transparent process.

  • Personal Property Distribution:

    • Addresses the distribution of previously allocated personal property, providing clarity in asset allocation.

  • Funding at Date of Distribution Values:

    • Specifies funding considerations based on the values at the date of distribution, ensuring accuracy and fairness.

  • Proposed Final Distribution:

    • Formulates a comprehensive plan for the final distribution of trust assets, considering the beneficiaries' interests.

  • Consent from Beneficiaries:

    • Incorporates mechanisms for obtaining consent from beneficiaries, fostering agreement and cooperation.

  • Waivers of Accounting:

    • Addresses the potential need for waivers of accounting, streamlining the administrative process where appropriate.

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Living trusts, prized for probate avoidance and streamlined asset distribution, see increasing popularity as individuals seek alternatives to conventional wills. Recognizing the advantages of heightened control, flexibility, and privacy in estate management, people are drawn to these trusts. Stay informed for optimal estate planning.