Good morning. I'll be assisting you with your question.
No, the trust is not automatically dissolved.
OK...Can you tell me where I can find the steps and forms to dissolve it?
The process to dissolve a trust is usually quite simple. All you need to do is execute an amendment to the trust, simply stating that the trust is terminated on whatever effective date decide upon. Of course, that should be done after all the assets are transferred and the purpose of the trust has been fully met.
Sounds easy. Do I need to follow a template, or just state what you indicated? And does a copy need to be distributed to any official agencies, beneficiaries, etc?
It really just needs to be a two sentence amendment, signed by you. It is really quite simple.
Great. So just create the amendment and keep it in my records, right?
Yes, and attach a copy of the amendment to the trust. If it has been filed with the court, you need to attach a copy to that, as well.
Do you have any questions?
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