When it comes to Florida trust terminations, there are a few things you need to know. Our Fort Lauderdale team details why trusts are terminated, who can terminate a trust, and the factors that the Florida court takes into consideration when making this decision.
Reasons to Terminate a Trust
There are a few reasons why a Florida trust might be terminated. The most common reason is that the trustee no longer wants to act as the trustee, or the beneficiaries no longer want the trust. Other reasons might include:
● The death of the settlor
● The expiration of the trust term
● A material change in circumstances
Who Can Terminate a Trust?
Who can terminate a trust? In Florida, the settlor or the court can terminate a trust. The settlor is the person who created the trust and has complete control over it. The court can also terminate a trust if it finds that it is in the best interest of the beneficiaries. When making this decision, the court will take into consideration factors such as:
● The purpose of the trust
● The intent of the settlor
● The best interests of the beneficiaries
Factors to Consider When Terminating a Trust
There are a few factors that the court will take into consideration when deciding to terminate a trust. These include:
● The purpose of the trust
● The intent of the settlor
● The best interests of the beneficiaries
If you have questions about Florida trust terminations, you must speak to an experienced trust lawyer. A lawyer can help you determine your best legal course of action, given your situation.
We Can Help You Terminate Your Trust In Florida
If you need help terminating your trust in Florida, our team at Adrian Philip Thomas, P.A. can help. We have experience with trust and can help you through the process.
Contact us today by calling (954) 764-7273 or through our website.