Disbursement Notice to Beneficiaries by the Trustee after the Trust Terminates

When the trust terminates in total or partially, the trustee may send to the beneficiaries a proposal for distribution.

Beneficiaries right to object to the distribution terminates if the beneficiary does not notify the trustee of an objection within thirty (30) days after the proposal was sent. But the notice to the beneficiaries must express the right to object and the time limit to do so.  The notice to beneficiaries is assumed received 5 days after mailing, unless an earlier date is proven. This starts the 30 day objection period.

The trustee shall expeditiously distribute the trust property to the persons entitled to it less any reasonable reserve for the payment of debts, expenses, and taxes.

If a beneficiary signs a release of  liability for the trustee, it is invalid to the extent that:  It was induced by improper conduct of the trustee; or The beneficiary, at the time of the release, did not know of the material facts relating to the alleged breach and the trustee had actual knowledge of the facts relating to the alleged breach.

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All content is for informational purposes only. It is also only intended to relate to Mississippi Estate Planning Law.  If other states are mentioned, they are mentioned as an example only. No legal advice is provided in this content. Laws change so you need to check for any updates by current laws in Mississippi.