We all need a “do over” from time to time. Life changes, the law changes, and professionals learn to do things in better ways. Change is a fact of life – and the law. Unfortunately, many folks think they’re stuck with an irrevocable trust. After all, if the trust can be revoked, why call it […]
Decanting
Escape from a Bad Trust: 5 Strong Reasons to Decant Your Trust
When a bottle of wine is decanted, it’s poured from one container into another. When a trust is decanted, trust assets are poured from an old trust into a new trust with more favorable terms. Why Should a Trust Be Decanted? Trusts are decanted to escape from a bad trust and provide beneficiaries with more […]
What’s Hot in Estate Planning Right Now May Surprise You
Estate planning has truly evolved over the past 20 years. Gone is the uncertainty about federal estate taxes and the absolute requirement for married couples to use complex trusts to minimize these taxes. But also gone is planning for the “traditional” family. In fact, today estate planning is more complicated than ever before. Estate Planning […]
5 Good Reasons to Decant a Trust
Today many estate plans contain irrevocable trusts that will continue for the benefit of a spouse’s lifetime and then for the benefit of several generations. Since these trusts are designed to span multiple decades, it is important that they include trust decanting provisions to address changes in circumstances, beneficiaries, and governing laws. What is Trust […]