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 & 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

  Paul Cathcart, Jr., Esq., Hemenway & Barnes LLP , Boston
  
• 12:10 - 12:45 pm

  Drafting Flexibility into Trusts

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  • Trustee powers
  • Powers of appointment
  • 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

  Paul Cathcart, Jr., Esq., Hemenway & Barnes LLP , Boston
  Nikki Marie Sherwood, Esq., Nutter McClennen & Fish LLP , Boston
  
• 1:45 - 2:00 pm

  "Ask the Experts" Q&A Session and Key Takeaways

  Panel
  

Please Note

MCLE on demand programs are delivered completely online, underscoring their convenience and appeal. There are no published print materials. All written materials are available electronically only through a link included on the on demand program page.

Cochairs

Faculty