When a trust is due to come to an end it is important that the trust assets are distributed in accordance with the terms of the trust.
Our specialist lawyers can assist in the interpretation of the trust documentation, ensure that the necessary deeds of appointment out of trust are prepared and co-ordinate distribution to beneficiaries. There are often tax implications upon which we can also advise.
How do I dissolve a trust?
For a trust to be dissolved all the assets within it need to be distributed in accordance with the terms of the trust to the beneficiaries. Depending on the terms of the trust this might need to be done by deed and should be recorded in the trustees minutes. HMRC should also be notified of the closure of the trust.