How to Dissolve a Trust for Minors
- 1). Review the trust. Make sure it can be dissolved; verify that there's no language stating "non-revocable."
- 2). Execute a formal revocation (dissolution) of the trust. You can dissolve trusts in writing or orally. It's better for purposes of documentation to express your revocation in writing. To create such a writing, you need only state your intent to revoke the trust and sign the document; you don't have to use a template or other legal form.
- 3). Wrap up the affairs. Make sure you perform a final accounting of the trust for tax purposes. You've successfully dissolved the trust. Don't forget to come up with a plan for the disbursement of the principal.
