Decanting is the act of pouring assets from one trust into a different trust with more desirable terms. While a revocable trust can be amended freely while the grantor is alive, an irrevocable trust has more restrictions. To be sure, a trust protector would be the first line of defense when a problem arises. If the original irrevocable trust allows for a trust protector, she may be able to alter that trust to bring about the desired result. If a trust protector is not provided for in the original trust, or if she cannot fix the problem, decanting might be a good solution.

Everyone enjoys the warm and magical feeling that comes with new love. People of all ages hope to experience the delights of finding someone to share their life with. For elder clients though, many have already spent many years with someone for which they cared deeply. For this group especially, finding someone new to spend the rest of their life with is an exciting and wonderful surprise.

Despite the wonder and excitement of an elder’s newfound relationship, remarriage in retirement is a pursuit not to be taken lightly. Too many seniors do not plan for remarriage prior to taking the plunge and suffer tremendous consequences as a result. With an estimated 50% of previously married seniors remarrying, premarital planning takes on a whole new importance – and typically requires the guidance of experienced legal professionals.

What is a Qualified Disability Trust?

The legal authority to create a Qualified Disability Trust (QDisT) falls under §642(b)(2)(C) of the Internal Revenue Code. To qualify as a QDisT, the trust must meet the following criteria: