Tag Archives: modify trustee provisions

New York’s Revised Decanting Statute Under EPTL §10-6.6

View Article in PDF:  New York’s Revised Decanting Statute Under EPTL §10-6-6 ESTATE PLANNING MEMORANDUM DATE:    October 10, 2012 RE:        New York’s Revised Decanting Statute Under EPTL §10-6-6 Under the Uniform Trust Code and EPTL §10-6.6, a noncharitable irrevocable … Continue reading

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Modifying or “Decanting” Irrevocable Trusts

Despite the best efforts of drafters to contemplate unforeseen circumstances, situations arise where dispositive trust provisions may not reflect the present circumstances of beneficiaries. If the trust is revocable, and the grantor is alive, the grantor may revoke or amend the trust. However, trusts are often made irrevocable for tax or asset protection purposes. In those cases, revoking the trust, while not impossible, may be extremely difficult, especially if minor beneficiaries are involved. Continue reading

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