Duty of Trustee upon termination Flashcards
1
Q
Wind Up Trust Business
A
The trustee’s powers do not end immediately upon trust termination. The trustee may continue to exercise powers for a reasonable period of time necessary to wind up the affairs of the trust.
2
Q
Distribute to Remainder Beneficiaries
A
The trustee must then timely distribute trust property to the appropriate remainder beneficiaries.
