What is Trust Decanting?

For many years, practitioners have struggled to find ways to change the terms of an irrevocable trust. However, through common law and through the decanting statutes that have been enacted in many jurisdictions, it is now possible to modify an irrevocable trust. The rationale for allowing such a modification is that a trustee who has the power to distribute the trust property to or for the benefit of one or more beneficiaries should be able to make the distribution to them in trust and dictate the terms of that trust. Decanting is essentially a “do-over”.

Americans all over the nation are scrambling to protect themselves and their families from the coronavirus. One important factor that may be overlooked is incapacity planning. Estate planners have an important role in educating those within their community on the benefits of having updated healthcare directives. We've created a complementary marketing package that can help you engage clients and potential clients on this important matter. The package includes:

On March 18, 2020, the Families First Coronavirus Response Act (FFCRA) was passed. The Act has two important new laws for employees, intended to provide relief, as most people’s lives have been impacted in some way by COVID-19: (1) the Emergency Family and Medical Leave Expansion Act; and (2) the Emergency Paid Sick Leave Act. FFCRA also offers tax credits and exemptions designed to protect the viability of businesses during a time of economic stress.