How To Dissolve a Bulletproof Trust
To dissolve a Bulletproof Trust, there are a number of steps to complete:
- Have a final Trust Meeting with a majority vote by all Trustees to dissolve the trust, per 6.16.
- Record this new bylaw and complete all unfinished Trust Minutes from prior meetings.
- Settle all debts and make the final payment to Trustees.
- Disperse all assets to beneficiaries and capital interest holders accordingly (we cannot help with this).
- Close all public and private accounts in the trust's name.
- Notify IRS via Form 56 (see attachments) of discontinuation of fiduciary relationship, if trust has an EIN and has filed taxes.
- If trust never had to report due to minimum income filing requirements, Form 56 does not need to be filed.
- Keep all documents for (10) years, per standard CPA practices.