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.
The Harris Texas Agreement Among Beneficiaries to Terminate Trust is a legal document that outlines the process and terms for terminating a trust in Harris, Texas. This agreement is commonly used when all the beneficiaries of a trust collectively agree to terminate it, either due to the achievement of its purpose or for other reasons. Keywords: Harris, Texas, Agreement Among Beneficiaries, Terminate Trust, legal document, process, terms, beneficiaries, trust termination. There are no specific types of Harris Texas Agreement Among Beneficiaries to Terminate Trust as it is a generic agreement that can be customized to suit the needs and circumstances of the beneficiaries involved. However, it is essential to consult a legal professional to ensure compliance with state laws and the specific trust instrument.The Harris Texas Agreement Among Beneficiaries to Terminate Trust is a legal document that outlines the process and terms for terminating a trust in Harris, Texas. This agreement is commonly used when all the beneficiaries of a trust collectively agree to terminate it, either due to the achievement of its purpose or for other reasons. Keywords: Harris, Texas, Agreement Among Beneficiaries, Terminate Trust, legal document, process, terms, beneficiaries, trust termination. There are no specific types of Harris Texas Agreement Among Beneficiaries to Terminate Trust as it is a generic agreement that can be customized to suit the needs and circumstances of the beneficiaries involved. However, it is essential to consult a legal professional to ensure compliance with state laws and the specific trust instrument.
