Concerns over potential lawsuits are often prevalent among trustees of trusts, especially for successor trustees who have never before served in this role. Fortunately, an experienced Orange County trust lawyer can help prevent future litigation. A Trust Distribution and Termination Agreement is one such valuable tool that a legal professional can prepare in order to help protect a successor trustee. The Agreement also serves to obtain an agreement among the trust beneficiaries as to the final distribution of the assets of the trust. 

A properly drafted Trust Distribution and Termination Agreement will outline the steps of trust administration in California. It will also include the following information:

  • Identification of the successor trustees.
  • Outline of the dispositive provisions of the trust.
  • List of the personal property that was already distributed.
  • Description of the trust funding.
  • Description of the values that were used for determining trust asset distributions to sub-trusts and to beneficiaries.
  • Request for consent from all of the beneficiaries for a final distribution of the trust assets.
  • In some cases, a request for consent to waive the requirements for an accounting.

These agreements are designed to minimize the potential for conflict as the affairs of the trust are wound up. To maximize their effectiveness, they should be prepared by a qualified legal professional.

To learn more about Trust Distribution and Termination Agreements, contact the knowledgeable Orange County trust attorneys at the Law Office of James F. Roberts & Associates, APC. Call our office today at (714) 459-5481 for a consultation.

James F. Roberts
Founder and owner of the Law Office of James F. Roberts and Associates, a premiere estate planning law firm
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