Another one bites the dust. DeAngelis Legal assisted this long-time Phoenix client with the termination of an irrevocable trust created by his parents through a non-judicial settlement agreement among the trustee and beneficiaries. The agreement provided for a distribution to the remainder beneficiaries and the distribution of illiquid real estate to the income beneficiary. In addition to providing current liquidity to the remainder beneficiaries, terminating the trust will eliminate administrative expenses in the future.
