How To Dissolve a Bulletproof Trust

How To Dissolve a Bulletproof Trust

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

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