1. Termination

2. When does a trust terminate?

3. When does a trust terminate?
1. Express terms of trust
Most common method §

4. When does a trust terminate?
2. Settlor revokes §

5. When does a trust terminate?
3. Property exhausted
No trust without property §

6. When does a trust terminate?
4. Uneconomical
Notice to beneficiaries
Current distributees
Permissible distributees
Distributees if trust terminated now
Value < $50,000
Trustee determines purpose not justify cost of continuing trust
No adverse estate tax result
Trust not contain a conservation easement

7. When does a trust terminate?
5. Court order
Deviation §

8. When does a trust terminate?
6. Merger
Legal and equitable title reunited. §
Peaches and Herb

9. When does a trust terminate?
7. All beneficiaries die
Peaches and Herb

10. Trustee’s duties upon termination
1. Wind up trust business
Trustee retains trust powers for “reasonable” period.
How determine? §

11. Trustee’s duties upon termination
2. Distribute trust property to remainder beneficiaries
Must be done timely. §