ABSTRACT
This chapter examines the termination of trusts. As with partnerships, trusts can be created for a fixed term or for some singular purpose. However, most trusts are created for an indefinite period. The legal provisions relating to their termination are less sophisticated than in the case of either partnerships or companies. The chapter includes first some brief comments as to the possible variation of the terms of a trust which is roughly the equivalent of the altering of the memorandum and articles of association of a company. It also considers matters relating to the appointment of new trustees and the removal and retirement of trustees from office. The obligation to distribution places the trustee in a somewhat onerous position, as the trustee, in order to make a distribution, must not only ascertain the correct entitlements of the beneficiaries at law but calculate the shares to which they are entitled.
