How to Break a Trust in Missouri
A Missouri trust will terminate on its own when it is revoked or expires according to the terms of the trust itself or when the purpose of the trust becomes impossible to achieve, unlawful or contrary to public policy. As the settlor of a Missouri trust, if you wish to break, or terminate, a Missouri trust for any other reason, you must obtain consent of all beneficiaries or obtain court approval.
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Instructions
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Discuss your desire to terminate the trust with all the beneficiaries of the trust. In order to terminate the trust without court approval, all beneficiaries must consent to the termination.
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Obtain permission from all beneficiaries. No standard form is required for consent by a beneficiary; however, you should reference the trust with specificity in the document as well as indicate that the beneficiary is knowingly and voluntarily consenting to the termination.
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Sign and date the consent forms in front of a Notary Public.
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Draft a revocation or termination of trust document. As the settlor, you should indicate, in writing, your intention to break, or terminate, the trust. Again, no standard form exists, but be sure to reference the trust and indicate your desire to terminate the trust.
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Obtain court approval if necessary. If all of the beneficiaries have not consented to the termination, you must obtain court approval to terminate. A court may terminate the trust if it is convinced that the interests of all beneficiaries will be protected.
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Tips & Warnings
If you are required to obtain court approval, you may wish to consult with an attorney to be certain all the court documents are prepared properly.
