Tax,
Administrative/Regulatory
Oct. 16, 2018
New decanting law will make it easier to change irrevocable trusts
Last month, California enacted the Uniform Trust Decanting Act, which will now apply to all California trusts unless the trust instrument expressly opts out of the statute provisions.
Megan Lisa Jones
Email: megan.jones@withersworldwide.com
Loyola Law School
Megan is a tax attorney who specializes in estate and business planning. She was previously an investment banker at firms including Lazard Freres & Company.
Last month, California enacted the Uniform Trust Decanting Act, which will now apply to all California trusts unless the trust instrument expressly opts out of the statute provisions. Trust decanting allows a trustee to effectively modify or remove trust provisions from an irrevocable trust by pouring, or distributing, trust assets from an old trust into a new trust. Decanting can be especially helpful when estate planning documents are outdated or otherwise do not re...
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