Strategies for Fixing Dysfunctional Trusts
Reasons, methods and drafting tips for modifying irrevocable trusts
- Product Number: 2240194P01
-
CLE Credits, earn up to:
2 substantive credits, 0 ethics credits CLE Credit Note - Print Brochure
-
Add to Favorites List
Choose Date/Location:
-
Product Description
Product Description
Irrevocable trusts are a common estate planning tool for transferring wealth to future generations while reducing transfer taxes. In exchange, the grantor of an irrevocable trust must give up the ability to amend or revoke the trust. However, despite their name, irrevocable trusts can still be modified in many ways, particularly when they are no longer working as effectively as they should. This panel discusses potential reasons to modify a trust, such as fixing a scrivener’s error or ambiguity, reflecting changes in the law, or addressing unforeseen beneficiary circumstances. The speakers also review the multitude of judicial and non-judicial methods for modifying an irrevocable trust’s terms or altering important aspects of the trust’s administration, as well as drafting considerations to head off potential issues in advance.
-
Agenda
Agenda & Materials
-
12:00 - 12:10 pm
Reasons to Modify an Irrevocable Trust
on demand video Add to Cart- Change in circumstances
- Tax benefits
- Administrative changes
- Asset protection benefits
-
12:10 - 12:45 pm
Drafting Flexibility into Trusts
on demand video Add to Cart- Disclaimers
- Powers of appointment
- Power of Substitution
- Trustee succession
- Trust protector
Aimee Fukuchi Bryant, Esq., Fiduciary Trust Company , Boston
-
12:45 - 1:45 pm
Methods to Modify Irrevocable Trusts
on demand video Add to Cart- Judicial proceedings
- Non-Judicial proceedings
Aimee Fukuchi Bryant, Esq., Fiduciary Trust Company , Boston
Paul Cathcart, Jr., Esq., Hemenway & Barnes LLP , Boston
Nikki Marie Sherwood, Esq., Nutter McClennen & Fish LLP , Boston
Please Note
MCLE webcasts are delivered completely online, underscoring their convenience and appeal. There are no published print materials. All written materials are available electronically only. They are posted 24 hours prior to the program and can be accessed, downloaded, or printed from your computer.
-
- Faculty