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Termination of Trust by Trustee Page 1 of 2 Termination of Trust by Trustee I, , of , (Name of Trustee) (Address of Trustee) as Trustee of the Trust Agreement entered into with , of (Name of Trustor) , hereinafter called the Trustor, on , (Street Address, City, County, State, Zip Code) (Date) for the benefit of , of , (Name of Beneficiary) (Street Address) , pursuant to the powers granted to me in Section (City, County, State, Zip Code) of the Trust Agreement, do now terminate the Trust for the benefit of (Number) . I now pay over and assign to the beneficiary, (Name of Beneficiary) , the property held in Trust for his benefit, to be (Name of Beneficiary) (his/her) absolutely and free from any claim. I am exercising my discretion to terminate this Trust for the following reasons: (e.g., It is economically infeasible to administer the Trust because of its size) Witn
The provisions of section (city, county, state, zip code) of the trust agreement, I am entitled to an equal percentage of any property of the trust which i administer. 2 a trust is a partnership upon the death of its owner. In its best interests, the trust should be dissolved or terminated if (name of beneficiary) dies without a living trust or person or group (if there is one) to inherit the property, or if the holder is deemed by a court to not be "in trust" with the other beneficiaries. 3 this section sets forth all of the legal rights and obligations of the owner, or a group of owners. If more than one of the owner's or a group's members become incapacitated or die without a living trust or person or group to inherit the property, or if a group of owners becomes incapacitated or dies without a living trust or person or group of owners to inherit the property, this section also applies. 4 if there is more than one owner in a group, each owner is individually entitled to all the property received by a single group owner. 5 the "group" in section 9(1) refers to one or more joint owners of the property, acting under common interest. The “trust" in section 9(3) refers to an investment agreement or trust (including a power of appointment, trust deed, power of attorney, or power of appointment and power of appointment without power of attorney) between two persons other than owners, acting under common interest. The “part of a trust" in section 9(4) refers to a common interest property (within the meaning of section 9(6)) (other than property held in trust for a common interest or a group) so that one or more of the joint owners have the exclusive right of use, possession or disposition of it. The “part", "partnership" or "group" in section 9(5) refers to a person whose share of a trust (with or without one or more “investments") includes or includes the entire trust. Note: section 1 of the act is renumbered section 9. Back to top 6. The term "owner" or "trustor" includes: i. An individual , resident or domiciled in Manitoba ; ii. A corporation ; iii. A trust ; iv. A partnership; v. A receiver, trustee in bankruptcy or a receiver or trustee in bankruptcy proceeding appointed under the bankruptcy.