Out with the Old, In with the New: Using Trust Decanting to Adapt to Changed Circumstances

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NYU School of Professional Studies
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Virtual
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Decanting is a powerful tool that can be used to modify an irrevocable trust to address changes in the law governing a trust, changes in beneficiary circumstances, or to make needed changes to trust administrative provisions, such as trustee appointment and succession. This session addresses reasons to decant a trust, state decanting laws, and tax issues associated with trust decanting, a technique likely to gain added importance and attention against the background of possible legislative changes.