Cannon Estate Planning Teleconference: Nuts and Bolts of Trust Terminations

The idea of bringing trust administration to a conclusion may seem to the Trustee like a relief – and, in many respects, it is. However, terminating a trust isn’t nearly as simple as merely distributing its assets (and even that may not be so simple) and walking away. Numerous details must be successfully navigated along the way, and, if they aren’t, unhappy beneficiaries will ensure sleepless nights for the Trustee. In this presentation, we’ll delve into the following:

• Identifying and locating named or designated remainder beneficiaries
• Properly allocating assets among and distributing them to the remainder beneficiaries
• Income tax and generation-skipping transfer tax returns
• Statutes of limitation on actions by beneficiaries and IRS against Trustee
• Propriety of seeking releases from beneficiaries

Hosted at The Trust Company of Tennessee’s Knoxville office. Light snacks will be provided beginning at 12:30 p.m.

About Cannon Estate Planning Teleconferences

Cannon Estate Planning Teleconference Series is a teleconference on Wealth Management and Estate Planning topics.

The industry’s foremost leading authorities provide commentary and debate over the use of complex financial and legal strategies to serve their high-net-worth clients best. Professionals can connect and collaborate on relevant issues without the added expense of travel and accommodations while earning continuing education and learning credits to preserve their valuable business credentials.