How to Terminate a Trust
Learn about the many ways and reasons to terminate a trust, the rights of the vested beneficiaries and safeguards for trustees
- Product Number: 2200307P01
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CLE Credits, earn up to:
1 substantive credits, 0 ethics credits CLE Credit Note -
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Product Description
Product Description
There are many reasons and ways to terminate a trust. Some terminate by their terms; other trusts are uneconomical and terminate for that reason; some trusts can be terminated by Court action or through a non-judicial settlement agreement; and, in certain circumstances, some trusts can decant into another trust.
In all cases an account should be provided to the beneficiaries, but what if there are issues with the accounting? Can claims be brought for breach of fiduciary duty? If no claims are made, do assents from all parties prevent future claims?
This program guides you through the many ways and reasons to terminate a trust, the rights of the vested beneficiaries, and safeguards for trustees.
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Agenda
Agenda & Materials
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12:00 - 12:10 pm
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Revocable Trusts - 20E Section 602
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Trust Provisions and the Interplay with the MUTC - 203E, Section 105(b) & Section 410
- Explicit Trust Provisions
- Termination Clauses
- Trust Protectors
- Implicit Trust Provisions
- Power to Distribute all Trust Property
- Power to Make Unlimited Discretionary Distributions
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Using Non-Judicial Settlement Agreements - 203E, Section 111
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12:10 - 12:20 pm
Protecting the Trustee from Future Liability
on demand video Add to Cart- Barring Claims by Beneficiaries
- Final Accountings- 203E, Section 1005
- Assents - 203E, Section 1009
- Proposed Distribution Plan - 203E Section 817
- Barring Claims by Creditors
- Beneficiaries
- Settlor
- Revocable Trust, Additional Issues
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12:20 - 12:26 pm
Petition to Revoke Non-Charitable Trust M.G.L. c. 203E Sec. 411
on demand video Add to CartT. Michael Sullivan, Esq., Robinson, Boesch, Sennott & Daly P.A. , Portsmouth
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12:26 - 12:32 pm
Unanticipated Circumstances M.G.L. c. 203E Sec. 412
on demand video Add to CartT. Michael Sullivan, Esq., Robinson, Boesch, Sennott & Daly P.A. , Portsmouth
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12:32 - 12:38 pm
Unecomonic Trust - M.G.L. c. M.G.L c. 203E Sec. 414
on demand video Add to CartT. Michael Sullivan, Esq., Robinson, Boesch, Sennott & Daly P.A. , Portsmouth
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12:38 - 12:44 pm
Procedure - Petition to Terminate
on demand video Add to CartT. Michael Sullivan, Esq., Robinson, Boesch, Sennott & Daly P.A. , Portsmouth
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12:44 - 12:50 pm
Reformation to Correct Mistakes M.G.L. c. 203E Sec. 415
on demand video Add to CartT. Michael Sullivan, Esq., Robinson, Boesch, Sennott & Daly P.A. , Portsmouth
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12:55 - 1:00 pm
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- Faculty