Closing Procedures and Timeline. Following is an explanation of the recommended administrative and termination procedures.
Affidavit of Successor Trustee (“AST”) – The signing of an AST by the successor trustee formally installs them as the trustee of the Trust and is evidence of the same. If real property is owned by the Trust, the AST will add the Successor Trustee to the title of the property upon recording in the proper county recorder’s office. > > > Read the full article
Trust agreements can terminate for any number of reasons. Following are several explanations of why a trust might end, come to its conclusion, and be terminated…
Natural Trust Termination
Upon the settlor’s death. Upon the death of the settlor (or within a reasonable time after death) a standard liquidating trust may terminate. Upon a designated age or date. > > > Read the full article