How to Dissolve a Family Trust Will

••• Thinkstock/Comstock/Getty Images

Consult your state laws to determine whether you have statutory authority to dissolve your family trust will. Every state has its own set of statutes relating to trusts. Determine the manner of distributing the trust assets.

Review your family trust will for instructions on when and how to terminate and dissolve the trust. Contact all beneficiaries, if instructed to do so. Distribute the assets according to the terms of the trust.

Comply with a court-ordered dissolution. Attend any scheduled hearings or meetings. Prepare and file any final tax returns that may be due to the Internal Revenue Service. Read instructions to determine whether you need to file a Form 1041.

References

Resources

About the Author

Since 1993 Tina Jones' work has been featured in "The Washington Post," "Afro-American Newspaper," "Smithsonian" magazine, "American Legion" magazine, "Oxford University African American Encyclopedia" and "Patriots of the American Revolution." Jones graduated cum laude from Trinity University, earning a Bachelor of Science in business administration. She is also completing a master's degree in paralegal studies at The George Washington University.

Photo Credits

  • Thinkstock/Comstock/Getty Images