If we want to dissolve our Trust, what should that cost and how do you go about doing so?

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If we want to dissolve our Trust, what should that cost and how do you go about doing so?

We have many, many changes that need to be made to our trust. Also, we have come to realize that so many unexpected situations arise over the years. Maintaining a Trust has become an expensive ongoing expense. We think all we want is to keep the Will section of our Trust. How can we dissolve the trust, what would reasonable costs be, and how should we start the process? Also, and maybe most importantly, what are common mistakes are made when dissolving a Trust that we should be aware?

Asked on February 22, 2012 under Estate Planning, Michigan

Answers:

Steven Fromm / Steven J Fromm & Associates, P.C.

Answered 9 years ago | Contributor

The common mistake here is trying to do this on your own.  You need to meet with an estates attorney to make these changes and set up an overall estate plan that works for you.  For an article on this topic please read Estate Planning Mistakes: 5 Not So Easy Pieces at the following link at my website: http://www.sjfpc.com/estate_planning_drafting_wills_trusts.html

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