Legal Question in Wills and Trusts in Colorado

If all beneficiaries and trustee, along with grantor of ILIT agree to terminate trust is this sufficient to do so in the state of Colorado?


Asked on 10/14/12, 4:28 pm

1 Answer from Attorneys
Dave Rich Flatiron Legal Advisors, LLC

It should be. A trust is just a contract, so it will depend on the terms of the trust. Keep in mind, once it's terminated, the insurance policy would again be includable in the grantor's estate for estate tax (and possibly inheritance) purposes. Hope this helps.

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Answered on 10/19/12, 10:46 am


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