Postmortem planning – Add decanting provisions to a trust to increase trustee flexibility
Abstract: An estate plan shouldn’t be a static document — meaning it should continue to be revised and updated as needed in light of major life changes or estate tax law changes up until death. Postmortem, trustees can have similar power to adapt a trust to changing circumstances. This technique is called “decanting” the trust. This article details the ins and outs of decanting a trust.