Trust Termination: The Power of Experience
If you are a beneficiary of a trust that is being managed by a third party trustee, like a bank or trust company, and you are not satisfied with the management or terms of the trust, you have options. Our Citrus County law firm — VanNess & VanNess, P.A. — may be able to help you terminate the trust so that you receive outright distribution of your share of the trust assets. To discuss your legal needs and how we may be able to help, contact us by calling 866-697-6221 or by completing our online contact form.
Terminations of irrevocable trusts are not commonplace. Many times, such cases involve complex federal income and gift tax issues. They require a thorough knowledge of the workings of state and federal laws, and the tenacity to carry out a very demanding legal strategy that will often include judicial proceedings. The proven trial experience of VanNess & VanNess, P.A., plays a pivotal role in our trust termination practice area.
Challenging as it may be, the successful termination of a trust can be worth substantial sums in certain circumstances, depending on the specifics of each individual case and the client's goals. Our firm has successfully terminated a number of irrevocable trusts involving both corporate and individual trustees when the terms of an otherwise irrevocable trust were inconsistent with the purposes of the trust, the best interest of the beneficiaries, and for a variety of other reasons
Terminating Irrevocable Trusts ("Trust Busting")
If you are a beneficiary of an irrevocable trust and you are not satisfied with the trustee's management or the terms of the trust, the lawyers at VanNess & VanNess, P.A., would like you to consider the following:
- Some irrevocable trusts can be terminated.
- Our Citrus County law firm has terminated a number of irrevocable trusts.
- When an irrevocable trust is terminated, the trust assets are distributed to the beneficiary or beneficiaries of the trust.
Serving Our Clients Wherever Their Needs May Be
Florida is a retirement destination for people throughout the United States. At the law firm of VanNess & VanNess, P.A., our attorneys understand that many trusts originally created in other states may at some point require action on the part of beneficiaries now located in Citrus County.
At VanNess & VanNess, P.A., we have the resources to travel to courts in other parts of Florida or other states so that trusts created elsewhere can be terminated in the proper jurisdiction.
Contact Us to Talk About Your Options
If you or someone you know would like to discuss termination of an existing trust of which they are a beneficiary, please call the Central Florida law firm of VanNess & VanNess, P.A., at 866-697-6221 or contact us by completing our convenient online contact form.
