How do I distribute the assets from an irrevocable trust and close the trust itself?

If the trust provides for outright distribution, the assets should simply be distributed to the three of you and the trust accounts closed. However, there is likely a requirement to file an income tax return for the trust. You will also need to determine the new "stepped up" cost basis for assets like securities and real property if you have not done that already. I recommend that you hire an experienced tax attorney or CPA to assist you with the tax requirements.

To make sure you have buttoned things up properly, have legal counsel assist you in closing the Trust - making sure that all tax notices and filimgs are done according to the legal standards. Good Luck.