Take a Mulligan: Irrevocable Trust Modification – Part III: Trust Protectors

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by Matthew T. McClintock, JD | Vice President, Education - WealthCounsel

In my previous article, Part II – Decanting, I addressed the option where a trustee exercises his or her discretion in making distributions for the benefit of a beneficiary and, rather than distribute the property from the trust outright, the trustee distributes property in further trust. This modification provides an alternative when the results intended by the original trust instrument cannot be successfully achieved as the trust is actually administered.

As a further safeguard to ensure a grantor’s intent is fully and faithfully executed, we now move to the top step in our ascending staircase of Trust Modification options: modification by Trust Protectors. Download this article to learn more.