Trust Terminations – To Release or Not To Release and other Trustee Concerns!


The session will cover the various aspects of terminating a trust. Some of the questions addressed include: when or if releases or refunding agreements are required, who prepares final income tax returns if distributed to successor trustee, are there termination fees? What percentage reserve do trustees retain for fees and taxes? When is a settlement agreement, decanting or other reformation that leads to an early termination potentially an income taxable event? If it is, how would that be calculated? How can the worst potential results be avoided and the trustee and other parties best protected?

Thomas Forrest 
President & CEO
U.S. Trust Company of Delaware

Edwin Morrow III 
Regional Wealth Strategist 
U.S. Bank Private Wealth Management