H
hokor
Guest
Maine--My family members (5 beneficiaries) want to dissolve an "irrevokable" trust established upon the death of a family member 27 years ago, as it no longer is needed for the purposes originally specified, and we agree that funds could be used better if not "managed" and maintained by the bank. The trust will be divided up upon the death of my mother, who is in good health and also in agreement to dissolve the trust.
How easy (or difficult) will this be? I understand it may be possible to bring the matter before a probate court and show that all 5 beneficiaries believe it is in the best interest to dissolve the trust, and this may be adequate. (I also understand we can show the bank has not managed the trust appropriately--a possible but far less deirable route...) Please advise! Thanks--
How easy (or difficult) will this be? I understand it may be possible to bring the matter before a probate court and show that all 5 beneficiaries believe it is in the best interest to dissolve the trust, and this may be adequate. (I also understand we can show the bank has not managed the trust appropriately--a possible but far less deirable route...) Please advise! Thanks--