Unless the continuation of a trust is necessary to carry out a material purpose of the trust (such as tax benefits), the trust may be terminated by agreement of all the beneficiaries if none of them is mentally incompetent or underage (e.g., under 21 in some states). However, termination generally cannot take place when it is contrary to the clearly expressed intention of the trustor. In the absence of a provision in a trust instrument giving the trustee power to terminate the trust, a trustee generally has no control over the continuance of the trust.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Contra Costa County, located on the eastern shore of San Francisco Bay in California, has various legal agreements in place to facilitate the termination of trusts among beneficiaries. One such agreement is the Contra Costa California Agreement Among Beneficiaries to Terminate Trust. This agreement is designed to provide a framework for beneficiaries of a trust to come together and decide to terminate the trust and distribute the assets among themselves. The Contra Costa California Agreement Among Beneficiaries to Terminate Trust serves as a legal document outlining the terms and conditions for terminating a trust in this county. It is an important tool for beneficiaries who wish to dissolve a trust and facilitate the distribution of its assets. Some important keywords related to this topic might include: 1. Contra Costa County: Referring to the county in California where this agreement is applicable. 2. Agreement Among Beneficiaries: Describing the document that outlines the terms for termination of trust, which involves the mutual consent of beneficiaries. 3. Terminate Trust: The process of ending a trust and distributing its assets. 4. Legal Agreement: Referring to the legally binding document that beneficiaries use to formalize the trust termination process. 5. Asset Distribution: The process of dividing and distributing the trust assets among the beneficiaries. Different types of Contra Costa California Agreements Among Beneficiaries to Terminate Trust may include variations in terms and conditions, depending on the specific circumstances and preferences of the beneficiaries involved. These can include: 1. Partial Termination Agreement: When beneficiaries only want to terminate a portion of the trust, keeping the remaining assets within the trust intact. 2. Complete Termination Agreement: When beneficiaries aim to completely dissolve the trust and distribute all assets held within it. 3. Modified Distribution Agreement: When beneficiaries wish to deviate from the default distribution plan outlined in the trust and agree upon a modified asset distribution plan. 4. Contingent Termination Agreement: In case of certain conditions or events, beneficiaries may agree to terminate the trust at a specific time or upon the occurrence of a particular event. It is important to consult with legal professionals familiar with the specific laws and regulations of Contra Costa County, California, to ensure the appropriate drafting of a Contra Costa California Agreement Among Beneficiaries to Terminate Trust that meets the specific needs and objectives of the beneficiaries involved.Contra Costa County, located on the eastern shore of San Francisco Bay in California, has various legal agreements in place to facilitate the termination of trusts among beneficiaries. One such agreement is the Contra Costa California Agreement Among Beneficiaries to Terminate Trust. This agreement is designed to provide a framework for beneficiaries of a trust to come together and decide to terminate the trust and distribute the assets among themselves. The Contra Costa California Agreement Among Beneficiaries to Terminate Trust serves as a legal document outlining the terms and conditions for terminating a trust in this county. It is an important tool for beneficiaries who wish to dissolve a trust and facilitate the distribution of its assets. Some important keywords related to this topic might include: 1. Contra Costa County: Referring to the county in California where this agreement is applicable. 2. Agreement Among Beneficiaries: Describing the document that outlines the terms for termination of trust, which involves the mutual consent of beneficiaries. 3. Terminate Trust: The process of ending a trust and distributing its assets. 4. Legal Agreement: Referring to the legally binding document that beneficiaries use to formalize the trust termination process. 5. Asset Distribution: The process of dividing and distributing the trust assets among the beneficiaries. Different types of Contra Costa California Agreements Among Beneficiaries to Terminate Trust may include variations in terms and conditions, depending on the specific circumstances and preferences of the beneficiaries involved. These can include: 1. Partial Termination Agreement: When beneficiaries only want to terminate a portion of the trust, keeping the remaining assets within the trust intact. 2. Complete Termination Agreement: When beneficiaries aim to completely dissolve the trust and distribute all assets held within it. 3. Modified Distribution Agreement: When beneficiaries wish to deviate from the default distribution plan outlined in the trust and agree upon a modified asset distribution plan. 4. Contingent Termination Agreement: In case of certain conditions or events, beneficiaries may agree to terminate the trust at a specific time or upon the occurrence of a particular event. It is important to consult with legal professionals familiar with the specific laws and regulations of Contra Costa County, California, to ensure the appropriate drafting of a Contra Costa California Agreement Among Beneficiaries to Terminate Trust that meets the specific needs and objectives of the beneficiaries involved.
