Amending an Irrevocable Trust: The Dos and Don'ts of Decanting

Resource Center

By Whitney L. Sorrell, JD, CPA, MBA | Contributing Guest Writer, Sorrell Law Firm, PLC

Decanting is an increasingly popular way to add flexibility to irrevocable trusts (IRT). It's also a great opportunity for planners to add value for clients and increase firm revenues. But, there are some dos and don'ts you should be aware of when decanting an IRT, including

  • Proper mechanics
  • Tax pitfalls
  • A trustee’s fiduciary duties.

Learn all about it and get started in this recent article by attorney and WealthCounsel member, Whitney Sorrell.