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Procedure to closure of trust if no such thing in the deed, advise.
31-Jan-2023 (In Wills / Trusts Law)
a charitable trust(for general public) was formed by my grandparents and parents,all of them being the trustees.No author of the trust has been mentioned in the trust deed.All four of them jointly formed it and were executing it.The deed does not mention regarding closure of the trust.My grandparents are no more and my parents are aged.We wish to close the trust and the savings account attached to it.How do i go about it
Prepare a written document indicating the trust will be closed or dissolved on a certain date. Include pertinent information, such as the full legal name of the trust, the date the trust was created, the place the trust agreement was executed, and the names of the grantors or settlors. Sign the document as trustee. Store this document in a metal file cabinet, home safe or in another secure location with other trust records, such as the original trust document. If questions arise at a later date regarding the status of the trust, this document will serve as a written record it was dissolved.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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