How do I dissolve a Tennessee irrevocable trust following grantor death and distribution of all assets to beneficiaries?
2 attorney answers
I would have to review a copy of said trust in order to appropriately answer the question. The trust document is like the play book for the trustee. The trustee should review this with an attorney to determine the appropriate steps to make. Also, there may be a final tax return that needs to be filed.
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You may not have to do anything to dissolve the Trust, depending on the terms of the Trust Agreement. If the Trust was created by the Grantor's Will, you may have to have a hearing in the Probate Court. If the Trust was created by separate agreement during the life of the Grantor, you may be able to terminate it by agreement with the beneficiaries. It is impossible to advise you without reading the Trust Agreement.
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