What happens to a charitable trust when it is wound up?

Date:2023-01-08
When a charitable trust is wound up, assets are liquidated and debts or liabilities are paid or transferred. Once all assets are liquidated, the remaining funds are distributed to the beneficial beneficiaries or charitable causes in accordance with the trust documents. The trustees need to first seek the permission of the court to dissolve and wind up the trust. The court will then issue orders setting out the process to follow in winding up the trust.
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