How can you mend a broken trust? Try decanting
Abstract: An irrevocable trust can be a powerful estate planning tool, but in some cases irrevocability could be a disadvantage. The risk that a trust will cease to serve its purpose is greater if it’s designed to operate over several generations. One strategy that may allow you to fix a broken trust is decanting. This article details how to decant a trust and explains the tax consequences. A brief sidebar explores other options for amending an irrevocable trust.