Legal Question in Wills and Trusts in Texas

What costs, taxes and fees are involved when a trust is terminated?

(Trust with 2 beneficiaries and the "split" is 50/50)

Also would there be a cost/tax benefit to create 2 new trusts vs. the 2 beneficiaries receiving the trust assets?

Thanks a lot for the advice


Asked on 10/20/11, 4:20 am

1 Answer from Attorneys
Brian Thomas Burdette & Rice PLLC

The truth is that there may be significant costs or none at all. Trusts are a little bit more complicated than you think, and it's impossible to generalize the effect of their termination. The ability to tailor a trust and make it unique is one of the many reasons why they might be used in the first place. That said, any response would need to be based on the particular trust in your case. I would encourage you to take the trust document to an estate planning or probate attorney to learn a bit more about what you've got.

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Answered on 10/20/11, 8:30 am


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