Chayet & Danzo, LLC Chayet & Danzo, LLC www.Coloradoelderlaw.com
Call for a Free Initial Consultation
Direct303-872-5980
Toll-Free 1-888-472-1088
Email Us
Compassion, talent and dedication: guiding colorado families and Their Trusted Advisors During Times of Need

What happens when a trust ends?

Trusts are a staple of many estate plans, and they serve a very important function for a lot of people. It is very easy to be confused by a trust, even though it is a fairly straightforward legal premise. A trust is simple a property arrangement between three people. The person who owns the property, the grantor, transfers the property to the trust, which is handled by an assigned individual, the trustee. The beneficiary is the person who ultimately gets the property, but only under the conditions outlined in the trust.

Ending a trust also may seem complicated, but it really depends on how the trust is outlined and how the trustee and the beneficiary deal with the trust upon the grantor's death.

A trust can end under "proper" circumstances, which basically means that the trust is exhausted and the property within the trust has been passed on to the beneficiary.

The trust can also end based on what the grantor wrote in the trust. If the grantor specified an "end date" or condition for the trust, then the trust would end once that date is reached or that condition is fulfilled.

When a trust ends and there is still property contained within the trust, it is up to the trustee and beneficiary to work out how the trust is handled. This assumes that the grantor did not outline anything in the trust that deals with this scenario. Usually the property would be distributed based on the trustee's and beneficiary's interpretation of a fair distribution of the property to other beneficiaries.

No Comments

Leave a comment
Comment Information

Watch Our Firm Video

We are the premier Elder Law firm in the Colorado region. We set ourselves apart from other law firms in the area with our talent, dedication, compassion and ability of our attorneys to handle any case in Elder Law. We serve Colorado families with experience and dignity in your time of need.

View More Videos

Denver Office
650 S.Cherry St., Suite 710
Denver, CO 80246

Phone: 303-872-5980
Fax: 303-355-8501
Denver Law Office Map

Edwards Office
105 Edwards Village Blvd.
#D-201
Edwards, CO 81632

Toll Free: 888-472-1088
Fax: 303-355-8501
Edwards Law Office Map

Aspen Office
600 East Hopkins Avenue
Suite 301
Aspen, CO 81611

Toll Free: 888-472-1088
Fax: 303-355-8501
Aspen Law Office Map

  • Rated by Super Lawyers Macro Chayet SuperLawyers.com
  • Rated by Super Lawyers Frank J. Danzo, III  SuperLawyers.com
  • Member National Academy of Elder Law Attorneys, Inc. TM
  • Avvo Rating 10.0 Superb Top Attorney Elder Law
  • 2015 Five Star Professional Wealth Manager Multi-Year Winner
  • Our new 2015 Medicaid Book: how to protect your Family's Assets from devastating nursing home costs
  • Proud Sponsor 2015-Denver Colorado Senior Law Day
  • Peer Review Rated For Ethical standards & Legal Ability TM Martindale Hubbell
  • Haystack