How to Wrap Up a Trust in Michigan
Written by Christopher J. Berry, Esq. on August 6, 2008 – 8:08 pm -
Our firm assists clients as trustees in administering Michigan Trusts. Some tips for wraping up a trust include the following
- Carefully and accurately read the terms of the trust agreement, as well as the powers and limitations of the trustee’s power.
- File final tax returns.
- Determine the shares for the beneficiaries and heirs after any expenses.
- Prepare any conveyances or liquidate the assets.
- Distribute assets and obtain receipts from the beneficiaries and releases and indemnifications when appropriate.
- Prepare the final report and provide it to any interested persons.
- Get court approval of the final report when it’s appropriate.
If you have any questions or want more information, contact me at (248)-865-4700.
Posted in Estate Planning, Living Trusts, Michigan Probate, Trust Administration |
