Trust Decanting: A Compelling (and Underused) Strategy for Creative Trust Solutions
Decanting trusts is a strategy that is increasingly gaining the attention of estate planning professionals — and with good reason. Essentially, decanting is a creative, yet underused, option for your clients if/when a trust, typically an IRT, no longer fits. Assets from the original trust are distributed to a new trust that better meets the client's needs and objectives.
At least 22 U.S. states have added statutes to permit decanting. However, many estate planners don't adequately understand trust decanting so fail to consider it when advising clients — potentially missing out on opportunities for clients and new revenue streams for attorneys. Learn more by downloading this article.