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As you know, the irrevocable trust cannot simply be terminated just by declaration, you would have to actually go to court and prove that the trust is uneconomical and as such should be dissolved. This requires more than a letter agreement because the trust is "irrevocable" and that means the trustee and beneficiary cannot just terminate it as they please and file the final 1041, it means a petition must be filed in court to dissolve the irrevocable trust for good cause. This means attorney's fees are needed, because an attorney is needed to represent the trust in court matters.
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