Legal Question in Wills and Trusts in New Jersey

Re: Distribution of funds from Trust

There are several different ways to terminate a trust, and each will give you different levels of "protection" from possibly being sued by a beneficiary in the future.

At a minimum, you should have an attorney review the estate/trust financial records and prepare a from of release for the beneficiaries to sign prior to receiving a distribution from the trust.

Depending on the circumstances, you may also want to prepare an accounting of the estate/trust administration for the beneficiaries to review and approve, or have the accounting filed in court and approved by the probate court.

Each option has pros/cons so you should review the situation with a trust and estates attorney who can assist you in making the right choice.

Re: Distribution of funds from Trust

The proper way to do this is a simple accounting for the trust, explaining income, expenses and proposed distribution of assets, plus a form of Release and Refunding Bond by which the beneficiaries release you from any liability, approve your accounting and acknowledge receipt of what they will receive. These are not complicated matters and the fees involved, unless there are complications, should be reasonable. Call me if you need assistance.