Le texte intégral de ce guide est en anglais ; le résumé ci-dessus est dans votre langue. Les résumés des lois et l'anglais restent la source de référence.
Closing · 6 min de lecture
When a trust ends
A trust terminates if it is revoked or expires under its terms, no purpose of the trust remains to be achieved, or its purposes have become unlawful, contrary to public policy or impossible to achieve (G.L. c. 203E, § 410(a)). A non-charitable irrevocable trust may also end by consent with the court's approval (§ 411(a), (b)); the court may terminate a trust where, because of circumstances not anticipated by the settlor, termination will further its purposes (§ 412(a)); and the trustee of a trust whose property totals less than $200,000 may terminate it, after notice to the qualified beneficiaries, on concluding that the value of the property is insufficient to justify the cost of administration (§ 414(a)).
The account, the distribution and the reserve
At the termination of the trust the trustee sends an account to the distributees and permissible distributees and to other qualified beneficiaries who request it (G.L. c. 203E, § 813(c)). On an event terminating or partially terminating the trust, the trustee proceeds expeditiously to distribute the trust property to the persons entitled to it, subject to the right to retain a reasonable reserve for the payment of debts, expenses and taxes (§ 817(b)). On termination the trustee may exercise the powers appropriate to wind up the administration and distribute the trust property (§ 816(27)), including distributions in divided or undivided interests and allocations of particular assets in proportionate or disproportionate shares (§ 816(22)).
The thirty-day proposal
Upon termination or partial termination of a trust, G.L. c. 203E, § 817(a) provides that the trustee may send the beneficiaries a proposal for distribution. A beneficiary's right to object to the proposed distribution ends if the beneficiary does not notify the trustee of an objection within 30 days after the proposal was sent — but only if the proposal informed the beneficiary of the right to object and of the time allowed for objection, and provided the beneficiary with sufficient material facts to evaluate the proposal. Like a final account, a proposal is a document a licensed Massachusetts attorney of your choosing can prepare; interested persons may also approve a trustee's report or accounting by a non-judicial settlement agreement (§ 111(d)(2)).
The periods that follow
A claim against a trustee for breach of trust is barred as to a beneficiary who has received a final account or other statement fully disclosing the matter and showing termination of the trust relationship, unless a proceeding is commenced within 6 months after receipt; and it is barred in any event, notwithstanding lack of full disclosure, after 3 years against a trustee who issued a final account or statement the beneficiary received and informed the beneficiary of the location and availability of records for examination (G.L. c. 203E, § 1005(a)). Otherwise a beneficiary may not commence a proceeding more than 3 years after the beneficiary or a representative knew or reasonably should have known of a potential claim (§ 1005(b)), and a proceeding is commenced within 5 years after the first of the trustee's removal, resignation or death, the termination of the beneficiary's interest, or the termination of the trust (§ 1005(c)). A trustee intending to make final distribution of a trust before the end of a year files, immediately before the distribution, a return of the income received during that year and before the distribution, and the tax on it becomes due and payable forthwith (G.L. c. 62C, § 6(b)). Whether to send a proposal, how much to reserve and when the periods began are questions a licensed Massachusetts attorney of your choosing answers.
Les textes de loi, mot pour mot
Limitation of action against trustee
G.L. c. 203E, § 1005 ↗Explication claire et simple ; le texte intégral de la loi n'est pas encore attesté dans notre bibliothèque. Consultez la loi officielle via le lien ci-dessus.
Modification or termination of trust; proceedings for approval or disapproval
G.L. c. 203E, § 410 ↗Explication claire et simple ; le texte intégral de la loi n'est pas encore attesté dans notre bibliothèque. Consultez la loi officielle via le lien ci-dessus.
Modification or termination of uneconomic trust
G.L. c. 203E, § 414 ↗Explication claire et simple ; le texte intégral de la loi n'est pas encore attesté dans notre bibliothèque. Consultez la loi officielle via le lien ci-dessus.
Distribution upon termination
G.L. c. 203E, § 817 ↗Explication claire et simple ; le texte intégral de la loi n'est pas encore attesté dans notre bibliothèque. Consultez la loi officielle via le lien ci-dessus.
Questions fréquentes
Must a Massachusetts trustee get the beneficiaries' approval to close a trust?
No statute requires it. The trustee may send a proposal for distribution that ends a beneficiary's right to object after 30 days where it meets G.L. c. 203E, § 817(a); a beneficiary's written consent, release or ratification relieves the trustee only on the conditions of § 1009; and interested persons may approve a trustee's report or accounting by a non-judicial settlement agreement (§ 111(d)(2)).
How long after a trust ends can a Massachusetts beneficiary sue the trustee?
A claim is barred unless a proceeding is commenced within 6 months after the beneficiary received a final account or other statement fully disclosing the matter and showing termination of the trust relationship, and is barred in any event after 3 years against a trustee who issued a final account the beneficiary received and informed the beneficiary of the location and availability of the records (G.L. c. 203E, § 1005(a)); otherwise within 3 years after the beneficiary knew or reasonably should have known of a potential claim (§ 1005(b)), or 5 years after the first of the trustee's removal, resignation or death, the end of the beneficiary's interest or the trust's termination (§ 1005(c)).
Can a small Massachusetts trust be ended early?
The trustee of a trust whose property totals less than $200,000 may terminate it, after notice to the qualified beneficiaries, on concluding that the value of the property is insufficient to justify the cost of administration, and the court may modify or terminate a trust if it determines that the value of the trust property is insufficient to justify the cost of administration (G.L. c. 203E, § 414(a), (b)); on such a termination the trustee distributes the property in a manner consistent with the purposes of the trust (§ 414(c)).
Lectures liées
Le Centre d'apprentissage est de l'information générale sur la loi du Massachusetts — pas un avis juridique, ni un substitut aux conseils d'un avocat du Massachusetts agréé sur vos faits précis. TrusteeClear est un logiciel, pas un cabinet.