[WSBARP] Termination of Trust

[Jeanne Dawes]

I customarily get an Acknowledgement from the beneficiaries that they have received their full distributive share of the trust, approve all action of the Trustee, and state the trust is terminated.  Close the bank account, if any, and that’s it.

Jeanne

Jeanne J. Dawes
Attorney at Law
Gore & Grewe, P.S.
103 E. Indiana Avenue, Suite A
Spokane, WA 99207-2317
Voice:  509-326-7500
Fax:      509-326-7503
jjdawes at goregrewe.com<mailto:jjdawes at goregrewe.com>

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From: wsbarp-bounces at lists.wsbarppt.com On Behalf Of Jim Doran
Sent: Wednesday, October 27, 2021 8:45 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] Termination of Trust

Client is the Trustee of a Trust that has now become obsolete due to the transfer of all the assets per the terms of the Trust.  What do we do to terminate the Trust?

I can prepare a "Termination of Trust" document to be signed and put in the file.  Does the IRS or any other entity need to be notified?   How do you wind up a Trust?

Jim Doran
James R. Doran
Attorney at Law
100 E. Pine Street -  Suite 205
Bellingham, WA 98225
(360)393-9506
jim at doranlegal.com<mailto:jim at doranlegal.com>
www.doranlegal.com<http://www.doranlegal.com>
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