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Business & farm
First of all, trusts do not have executors, they have trustees. In other words, the fiduciary of a trust is a trustee, not an executor, which is the fiduciary of a will.
If the trust is not terminated, then you have a continuing fiduciary duty to the beneficiaries thereof and, as a result, there is continuing exposure (legal liability). Once the trust is terminated, the duties and exposure essentially cease to exist.
There are really no "unknown results" that will arise after termination unless those issues arose during the period the trust was being administered.
Again, an in-person consultation with a local professional is highly recommended.
May 25, 2022
8:01 AM
916 Views