This form is a Release and Cancellation of Trust Agreement / Trust Indenture. All liens and encumberances created thereby are certified to be satisfied and released. Adapt to fit your circumstances.
Hawaii Release and Cancellation of Trust Agreement (also known as Trust Indenture) is a legal document that allows for the termination, release, or cancellation of an existing trust agreement in the state of Hawaii. This agreement refers to the termination or release of a trust that has been established to hold assets or property on behalf of one or more beneficiaries. The purpose of a Trust Indenture is to formally outline the conditions and processes for releasing or canceling a trust. It typically includes the names and contact information of the parties involved, such as the granter (person establishing the trust), the trustee (person or entity managing the trust), and the beneficiaries (individuals or organizations benefiting from the trust). The document may specify various conditions or events that can trigger the release or cancellation of the trust. These conditions may include the fulfillment of specific objectives, the passage of a certain amount of time, the death of the granter or beneficiaries, or the occurrence of certain events outlined in the trust agreement. Different types of Hawaii Release and Cancellation of Trust Agreement — Trust Indenture might include: 1. Revocable Living Trust Release and Cancellation: This type of trust agreement can be revoked or canceled during the lifetime of the granter. It provides flexibility to the granter in managing their assets and allows for modifications or termination at their discretion. 2. Testamentary Trust Release and Cancellation: This agreement refers to a trust that becomes effective upon the death of the granter, as specified in their will. In this case, the trust may be released or canceled if the conditions in the trust agreement are met, or if the beneficiaries agree to terminate the trust. 3. Irrevocable Trust Release and Cancellation: Unlike a revocable living trust, this type of trust agreement cannot be easily revoked or canceled. However, certain circumstances such as court approval, unanimous consent of all beneficiaries, or termination of the trust's primary purpose may allow for the release or cancellation of the trust. 4. Charitable Trust Release and Cancellation: This type of trust is established for charitable purposes and is typically irrevocable. However, if the charitable organization ceases to exist or the trust's objectives are fulfilled, the trust agreement may allow for its release or cancellation. 5. Special Needs Trust Release and Cancellation: This trust agreement is designed to benefit individuals with disabilities without jeopardizing their eligibility for government assistance programs. The trust may be released or canceled if it no longer serves the intended purpose or if the beneficiary's circumstances change significantly. It is important to consult with an attorney or legal advisor specializing in trust law to ensure that any release or cancellation of a trust agreement complies with Hawaii state laws and the specific provisions outlined in the trust indenture.
