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WealthCounsel Staff
Recent Posts
Give Your Practice a Gift For The Holidays
By WealthCounsel Staff on Dec 25, 2020 10:00:00 AM
From Old to New: The Basics of Trust Decanting
By WealthCounsel Staff on Dec 18, 2020 10:00:00 AM
It may seem surprising to use a wine analogy to explain a legal concept, but when discussing trust decanting, pouring wine is often a part of the conversation. When you take a bottle of wine and slowly pour the wine from the bottle into a different container, you are separating the wine from any sediments that may have formed in the bottle. This process is called wine decanting. Decanting ultimately makes the wine taste better as it removes the harsh taste of built-up sediment. Similarly, trust decanting allows a trustee to modify an irrevocable trust by “pouring” the trust assets into a new trust that has different, often more favorable terms. If a trustee has the discretionary power to distribute trust assets to and for the benefit of a beneficiary, decanting enables a trustee to use this power to dictate the terms of a new trust.
Current Developments in Estate Planning and Business Law: December 2020
By WealthCounsel Staff on Dec 11, 2020 10:00:00 AM
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From changes in the tax assessments of inherited property in California to new Paycheck Protection Program (PPP) guidance regarding the nondeductibility of expenses paid by PPP loans, we have recently seen significant developments in estate planning and business law. To ensure that you stay abreast of these legal changes, we have highlighted some noteworthy developments and analyzed how they may impact your estate planning and business law practice.