Legal Question in Wills and Trusts in New York

Re: Terminating irrevocable trust

Yes, it may be possible to terminate the trust, depending on various circumstances (the exact terms of the trust, the amounts held in the trust, who is the trust, which State's laws govern, etc.).

If you like, you may email my office with your contact information for a brief consultation.

Re: Terminating irrevocable trust

Yes. An irrevocable trust can be terminated if the corpus of the trust is insufficient to justify the expense of administration, or perhaps other reasons. But, if it is terminated the assets in the trust have to be distributed to the trust beneficiaries, who I presume are not the mother. Once the assets are distributed, the beneficiaries can give whatever they want to the mother. It would be a gift. Gifts have no tax impact up to $12,000 per person per year.

Of course, not having seen the trust document, its purpose or provisions, I cannot tell you whether this particular trust can be terminated and if so exactly what has to happen to the principal of the trust.